Chandigarh Housing Board (CHB) has decided to auction 137 residential and commercial properties starting February 8, 2023. Having failed to get a response from buyers, the board reduced the prices of commercial properties on a leasehold basis by 10 per cent. The auction will end on March 7, 2023.
While 45 residential units on a freehold basis will be auctioned, there will be 92 commercial units available on a leasehold basis.
Earlier, the auction was held on January 24, which got a moderate response, with only nine buyers out of a total of 140. For the 91 commercial properties on a leasehold basis, the board received only two buyers.
CHB CEO Yashpal Garg informed that the reserve price of commercial properties was slashed by 10 per cent and they hope to get a good response this time.
As per an official statement, those willing to participate in the auction can visit the official website of the CHB at www.chbonline.in to know the procedure, terms and conditions and download the tentative list. For submitting e-bids, a bidder must register at https://etenders.chd.nic.in. A valid e-mail id, phone number and digital signature are the primary requirements to participate in the e-tender process.
Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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