A CHB senior official said the property had been empty for years and deteriorating as well. Since CHB could not auction this property for many years, it was decided to auction this property in stages.
Chandigarh: Council officials have begun the auction process for 110 residential properties. Following the completion of the auction process for 110 residential properties (self-owned properties), the Board of Directors will begin the auction process for 150 commercial properties (leasing) and 11 residential properties (rental) next month.
Auction through E-Tendering-
According to the official, the property will only be put up for auction through e-tendering. CHB recently lowered the reserved price of this property by 9-20%. CHB’s proposal was also recently approved by the Chandigarh administration.
The reserve price was reduced by 10-20% after seeing the low response to CHB’s attempt to put the property for auction last year. These 270 properties are located in sectors 51, 63, 38 (west), 39 and Manimajra. Among the properties, 51 new apartments are being offered at auction, which has been part of the most expensive CHB housing project in the city. In addition, the commercial properties are also situated in Manimajra, Sector 51, 61 and Maloya that will be put up for auction.
A senior official said the property had been empty for years and its condition was also deteriorating. Since CHB could not auction this property for many years, it was decided to auction this property in stages.
Flats Offered at Varied Price Range-
After registration with CHB, interested parties have 10-15 days to apply for the auction.
For the real estate auction, the board has already set the base price of HIG apartment (rent) in sector 39 at Rs 1.05 crore. Likewise, the reserve price for the three-bedroom apartment in sector 63 was set at Rs 86.24 lakh. The price of a two-bedroom apartment in sector 51 is between Rs 80 and 84 lakh respectively.
The reserve price for a 1 BHK apartment was set at 39.37 lakh and for EWS it was 24.35 lakh in Sector 49. Likewise, the reserve price for a 2 BHK apartment in sector 49 was set to vary from 69.86 lakh to 71.25 lakh. Taking into account the location of the floor.
The base price for a 2 BHK apartment in sector 63 is set at 67.29 lakhs. The base price for HIG (rental) apartments in sector 45-A is set at Rs 1.06 crore. Likewise, the price of a restaurant in Manimajra is also Rs 2.58 crore. The reserve price for a small corner stand (booth) is set at 97 lakhs.