Chandigarh's UT Estate Office reports a stunning 124% revenue surplus from residential property auctions, generating Rs 168.85 crore against a Rs 75.29 crore reserve. Standout sales like a Sector 33 plot at Rs 33.4 crore highlight robust buyer confidence, even as commercial sites lag behind.
The UT Estate Office in Chandigarh has launched a groundbreaking policy for monthly e-auctions of more than 700 freehold residential plots in prime sectors. This follows a record-breaking September auction yielding ₹168.85 crore, doubling reserve prices, to enhance market liquidity and set transparent benchmarks in India's priciest real estate hub.
Chandigarh's September 2-4 property auction netted ₹168.85 crore, doubling its ₹75.29 crore reserve. A Sector 33 plot sold for ₹33.4 crore, highlighting soaring demand in prime residential zones amid UT's aggressive e-auction strategy.