Chandigarh: The auction process for 110 residential properties has commenced, according to council officials. Following the completion of this auction, the Board of Directors plans to initiate the auction of 150 commercial properties available for leasing, along with 11 residential rental properties slated for next month.
Auction via E-Tendering
A senior official from the Chandigarh Housing Board (CHB) noted that this property has remained unoccupied and in poor condition for several years. Despite CHB's inability to auction off the property over the years, it was decided to adopt a phased approach for this auction.
The properties will exclusively be auctioned through an e-tendering platform. In a bid to attract buyers, CHB has recently implemented a price reduction ranging from 9% to 20%. This adjustment was sanctioned by the Chandigarh administration after previous attempts last year yielded insufficient interest.
These 270 properties are distributed across sectors 51, 63, 38 (west), 39, and Manimajra. Among them, 51 new apartments from a prominent and costly CHB housing project are included. The commercial properties up for auction are located in Manimajra, Sector 51, 61, and Maloya.
Diverse Price Ranges for Flats
Interested parties wishing to participate in the auction must register with CHB and submit their applications within a 10 to 15-day window following registration.
For this auction, the board has established a base price for a High-Income Group (HIG) rental apartment in sector 39 at Rs 1.05 crore. In addition, the reserve price for a three-bedroom apartment in sector 63 is set at Rs 86.24 lakh. Meanwhile, the cost of a two-bedroom apartment in sector 51 falls between Rs 80 lakh and Rs 84 lakh.
The base price for a 1 BHK apartment is pegged at 39.37 lakh, with Rs 24.35 lakh set for Economically Weaker Section (EWS) apartments in Sector 49. Similarly, the reserve price for a 2 BHK apartment in the same sector ranges from 69.86 lakh to 71.25 lakh, depending on their floor location.
Moreover, the base price for a 2 BHK apartment in sector 63 stands at 67.29 lakhs. HIG (rental) apartments in sector 45-A start at Rs 1.06 crore. As for commercial spaces, a restaurant in Manimajra is reserved for Rs 2.58 crore, whereas a small corner stand (booth) carries a price of 97 lakhs.