The Chandigarh Housing Board (CHB) has managed to sell four freehold properties (two residential and two commercial) in an e-auction.
The board had put total 35 freehold properties, including 29 residential and six commercial properties, for auction. The board found buyers for two EWS flats in sectors 40 and 52, selling them for Rs 22.5 lakh and Rs 24.5 lakh.
Similarly, the board sold two commercial properties in Sector 51 A for Rs 85.86 lakh and Rs 82.70 lakh. In total, the board earned Rs 2.15 crore.
The board’s chief executive officer (CEO), Yashpal Garg, said the highest bidder is required to make 25% payment by June 1 to avoid forfeiture of earnest money deposit (EMD) and blacklisting from future tendering processes of the CHB. The remaining vacant properties will be included in the next e-tenders which may be released in next week, he said.
With the change of status of properties from leasehold to freehold, the board was able to sell five properties in the previous auction. A residential unit was sold for Rs 26 lakh and four commercial units were sold for Rs 3.41 crore.