The 1014 square yard plot (which is around 1.5 kanal) in Sector 33 was auctioned for Rs 15.30 crore against the reserve price of Rs 7.53 crore, in the auction of properties by the UT estate office. The two day process of e-auction was completed on Thursday evening.
The UT administration’s estate office on Wednesday started the e-auction process of properties in the city. The estate office had put up properties — 11 residential, 14 commercial and one industrial — on auction for two days, ie, November 13 and 14.
While there were no takers for commercial and industrial properties, the estate office earns Rs 44.05 crore from the auction of 11 residential properties. The total reserve price of residential properties was Rs 27.59 crore.
According to market experts, there were buyers for residential properties as all of them were freehold and anyone who buys them will not have to shell out the exorbitant leasehold-to-freehold conversion fee which is charged by the administration.
The total reserve price of the commercial and industrial properties was Rs 15.1 crore and Rs 33 crore respectively, but they did not find any takers. As these were leasehold, buyers didn’t come forward for them.
All residential properties were in southern sectors. One of them was a built-up house on a four-marla plot in Sector 32A, which auctioned for Rs 1.68 crore against the reserve price of Rs one crore.
The remaining properties were plots, whose reserve prices range from Rs 1.25 crore to Rs 7.53 crore. They were located in sectors 33, 35, 37, 38 and 40.
The UT estate office had even organised a workshop for interested persons on how they could participate in the e-auction.
The estate office had also extended the last date for registration of e-auction. Earlier, the last date for registering e-auction was October 31 and it was later extended to November 10.
An official said that a help desk was also set up at the estate office for residents wishing to participate in the auction.
The last auction was held in February this year when estate office had earned Rs 28 crore after auctioning 10 residential properties.
