Rajasthan Housing Board (RHB) on Monday launched e-auction to sell its unsold properties. On the first day, more than 100 buyers participated in the e-auction to purchase 316 flats in Pratap Nagar. The department will give name of the winner later in this week.
RHB commissioner Pawan Arora said, “We have received good response from buyers. Before starting e-auction, more than 2,300 residents registered themselves for bids after paying Rs 590. The e-auction will continue till November 18 for selling a total of 9,605 flats. The list of bidders will be published soon after the e-auction to maintain transparency.”
Though the department is upbeat with the response, one has to wait to find out how many bidders purchase these houses. The RHB is offering these houses at discounted rates, but the prices quoted appear to be too exorbitant as most of the structures are dilapidated.
These RHB properties have failed to attract buyers in the past several years. The department is organizing e-auction for the first time in the state
As per the uploaded list, in Pratap Nagar Sector- 26, the RHB has quoted a reserve price of Rs 47,92,300 for MIG-A (duplex). The maximum discount offered is 25% which will be Rs 11,98,075. Even if a bidder buys this constructed house on maximum discount, money will be required for repairs.
“Apart from the main roads, the lanes in the colonies are in bad shape. Parks have not been developed and due to less occupancy, parking of vehicles outside the houses is not safe. At such costs, a buyer can purchase in privately developed colony where facilities are available,” said Deepak Paliwal, resident of Sector 76.
According to real estate experts, the RHB has fixed higher reserve price in many cities at a time when the market is facing a slump.
“In Kishangarh extension, the board has fixed reserve price of Rs 92 lakh for a HIG house. Even after providing a highest discount of 25%, the price of property is higher than the market price. Buyers will not purchase an old house at this rate,” said Rajat Sharma, a real estate investor.
