The Chandigarh Housing Board (CHB) has invited e-bids for the sale of 35 commercial and residential units on freehold basis. The bid submission will end on May 25. The properties on offer include 29 residential and six commercial.
The six commercial properties (booths) are available in Sector 51A. Four have a reserve price of Rs 80 lakh each, while the remaining two are priced at Rs 85 lakh each.
Among the 29 residential properties, 17 are in Indira Colony, four in Manimajra, two in Sector 52, two in Sector 63, and one each in Sectors 38 (west), 49 and 40. Their reserve price ranges from Rs 24 lakh to Rs 98 lakh.
Recently, the UT Adviser Dharam Pal had given approval for the sale of CHB units on freehold basis. While in connection with residential properties, directions were issued to CHB to deposit required conversion charges from leasehold to freehold, to the UT housing department, and start e-auction of the properties, whereas in connection with commercial properties, the directions were issued to UT housing department to put up the file before UT administrator for final approval.
In the board meeting of Chandigarh Housing Board (CHB), which was held in March, it was decided to allow sale of all the CHB properties on freehold basis even in those cases where the land was allotted to CHB on leasehold basis.
After March meeting, CHB had written to UT administration, “Nobody was investing crores on commercial properties on leasehold basis. The stringent rules in Chandigarh were proving beneficial for Punjab and Haryana, as private players in past had preferred to invest in Mohali or Panchkula. In the past, there were some orders at UT and later at MHA level, which restricts UT on selling commercial properties on freehold basis. The latest decision will definitely attract buyers,” board official had written to UT administration.
