Weak Response to Chandigarh Housing Board Auction
The Chandigarh Housing Board (CHB) has received a poor response to an auction held for its commercial as well as residential properties on a leasehold basis. The CHB had invited e-tenders for the sale of 151 commercial units and 38 built-up dwelling units on a leasehold basis. The last date for the submission of e-bids was August 10 and the bids were opened. A total of five e-bids were received against 151 commercial units and the CHB could sell only three units to the highest bidders. The total reserve price of the three commercial units was Rs 1.54 crore, while the total of the highest bids received against these units was Rs 1.57 crore. Similarly, 15 e-bids were received against 38 dwelling units and only five units could be sold to the highest bidders. The total reserve price of the five dwelling units was Rs 2.46 crore, while the total of the highest bids received against these units was Rs 2.77 crore. A flat in Sector 38 (West) was sold to the highest bidder for Rs 82.72 lakh against the reserve price of Rs 75 lakh, while the highest bid for a commercial unit in Mani Majra was Rs 52.52 lakh against the reserve price of Rs 51.39 lakh. “The CHB has received an average of nearly 12.60 per cent above the reserve price for residential units and nearly 6.50 per cent above the reserve price for commercial units,” said Yashpal Garg, Chief Executive Officer, CHB. In a previous e-auction of commercial and residential properties on a leasehold basis held on July 1, the CHB had received 16 e-bids against 156 commercial units and only 12 units could be sold to the highest bidders. Similarly, six e-bids were received against 11 dwelling units and the CHB could sell only two units to the highest bidders. Since the financial bids were opened today, the highest bidder is required to make the payment within five working days to avoid forfeiture of EMD and blacklisting from future tendering processes of the CHB. On the next auction, Yashpal Garg, Chief Executive Officer, CHB, said e-tenders would be invited after about 10 to 15 days for 34 freehold residential units, 33 leasehold residential units and 148 leasehold commercial units. The CHB had invited e-tenders for the sale of 151 commercial units and 38 built-up dwelling units on a leasehold basis. Five e-bids were received against 151 commercial units and the CHB could sell only three units. Similarly, 15 e-bids were received against 38 dwelling units and only five units could be sold.
Tags : News/Views Auction Chandigarh Housing Board Response Weak