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Chandigarh Housing Board on Wednesday received a poor response as the board managed to sell only eight out of the total 128 units put up for auction.
All the 8 units sold were condominiums with a 2-bedroom flat on board of Rs 1.33 Crore in Sector 51A. The online auction closed on Wednesday.
Last month, CHB called for electronic bids for the sale of 40 residential units on a freehold basis and 88 commercial properties on a rental basis.
However, there were only eight residential units that could go under the hammer and not a single contractor for commercial units on a rental basis.
According to the Chandigarh Housing Board, it generated revenue of Rs. 7.87 crores against a total reserve price of Rs. 7.16 crores from the sale of eight housing units on a freehold basis.
Yashpal Garg, CEO of CHB said they have received revenue of Rs 7,87,52,444 from the sale of eight housing units. He added that the remaining properties will be put up for auction again. He said the highest bidder would have to make a 25% payment by October 18 to avoid forfeiture of the earnest money deposit and blacklisting from the council’s future bidding operations.
auction prices
A two-bedroom apartment in Sector 51-A went for Rs 1.33 crore with reserve price of Rs 1.07 crore.
Similarly, the other two-bedroom flat in Sector 51-A went for Rs 1.24 crore with reserve price of Rs 1.07 crore.
Then he went for another 2-bedroom flat in Sector 51-A for Rs 1.21 crore with reserve price of Rs 1.07 crore. Of the total, six residential units were put up for auction in Sector 51A. EWS Flat in Sector 52 sold for Rs 24.41 lakh with reserve price of Rs 24.37 lakh and Class 4 flat in Manimagra sold for Rs 53.41 lakh with reserve price of Rs 53.36 lakh.
Transfer request
Unable to get any buyers for his commercial and residential properties which were on the leasehold, the Chandigarh Housing Board asked the UT management to allow the leasehold properties to be converted into freehold.
CHB sought permission to sell such residential and commercial properties built on a freehold basis. But the response to the same is waiting.
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