159 commercial, residential Chandigarh Housing Board properties up for grabs

Dushyant Singh Pundir

Tribune News Service

Chandigarh, October 25

Buoyed by the response received to the recent auction, the Chandigarh Housing Board (CHB) will soon invite e-bids for the sale of 159 commercial as well as residential properties in the city.

An official said the CHB would soon invite e-bids for the auction of 113 commercial and 27 residential properties on a leasehold basis and 19 residential units on a freehold basis.

After reducing the reserve price of its vacant commercial and residential properties on a leasehold basis by 20 per cent and 10 per cent, respectively, the CHB had invited e-bids for the sale of 191 vacant units — 132 commercial and 31 residential units on a leasehold basis and 28 residential units on a freehold basis — in September this year.

During the auction held on October 19, the CHB sold 19 commercial and four residential units on a leasehold basis and nine residential units on a freehold basis to the highest bidders.

The CHB had earned a total revenue of Rs16.29 crore from the e-auction of nine residential units on a freehold basis and four residential and 19 commercial units on a leasehold basis against the total reserve price of Rs14.54 crore of the units.

In the previous e-auction, the CHB was just able to sell only three commercial units out of 151 and five residential units out of 38 on a leasehold basis.

In the e-auction of commercial and residential properties on a leasehold basis held on July 1, the CHB could sell only 12 units out of 156 and two residential units out of 11 to the highest bidders.