May 10, 2023: In a move that will benefit 2,100 allottees, the board of directors of Chandigarh Housing Board (CHB) has approved the conversion of leasehold apartments to freehold under the Sector 63 General Housing Scheme. The scheme was launched in 2008, and many people faced issues as the properties were on leasehold.
The conversion charges for a three-bedroom will be about Rs 8 lakh, whereas the charges for a two-bedroom will be about Rs 5 lakh, according to CHB officials.
Of the total 2,108 apartments covered in the housing scheme, 336 are three-bedroom flats, 888 are two-bedroom, and 564 are one-bedroom. The scheme also provides 320 apartments for economically weaker Section (EWS).
Leasehold refers to a property tenure where one party buys the right to occupy the property for a specified length of time (30 to 99 years). In a leasehold land, while the land is given to developers, the ownership belongs to the original owner (such as the government). Freehold property, on the other hand, refers to a property free from hold (other than the owner). The buyer will own the plot over which the property is built.
CHB approves Draft brochure of Sector 53 scheme
In another development, the board of directors of CHB has approved the brochure of the Sector 53 General Housing Scheme. The property prices were finalised with a three-bedroom flat costing Rs 1.65 crore. Any decision on the four-bedroom flats’ scheme at Sector 53 was deferred.
According to the approved brochure, a two-bedroom housing unit will cost Rs 1.40 crore, while an EWS two-bedroom unit will cost Rs 55 lakh. The housing board plans to provide 372 apartments under three categories comprising 192 three-bedroom, 100 two-bedroom, and 80 two-bedroom EWS flats in Phase I. The scheme would be on a freehold basis.
The initial deposit amount to be submitted along with the application was also finalised, which is Rs three lakh for a three-bedroom flat, two lakh for a two-bedroom flat, and Rs one lakh for EWS.
The board gave the nod for recovering the tentative cost of the flat in five equated instalments (each of six months) along with a 12 per cent per annum interest date from the date of issuance of the Acceptance-Cum-Demand Letter (ACDL).
CHB has decided that the scheme would be launched after finalising the opening and closing dates with the approval of the chairman, CHB, at the earliest possible. Further, the application procedure will be simplified along with the presence of a help desk. The board plans to do away with the procedure of submitting any documents along with the application. According to the officials, the documents related to eligibility, etc., would be asked from those applicants only who were successful in the draw.
See also: Chandigarh Housing Board schemes: Allotment, e-auction
