Chandigarh Housing Board puts eight commercial properties on sale after failed auction bid

The Chandigarh Housing Board (CHB) has put eight commercial units for sale on a freehold basis for the first time after a failed auction bid. It has also put eight residential units for auction on a freehold basis.

The Chandigarh Housing Board (CHB) has decided to sell a total of sixteen properties for the first time, including eight freehold commercial sites, for e-auction. This also includes the sale of eight residential units on a freehold basis after CHB failed to auction its leasehold commercial properties.

The commercial properties are booths in Sector 51A, ranging from 207 square feet to 214 square feet in size, a report published in Hindustan Times (HT) said. The eight residential properties sized 425 square feet to 1,027 square feet are located in sectors 38W, 49, 51 and 63 are also being offered on sale.

The reserve prices for commercial properties, located in Sector 51-A, range between Rs 80 to Rs 90 lakh. The willing participants can also visit the official website of CHB, www.chbonline.in to get an idea of the detailed procedure for submission of earnest money deposit (EMD) and e-bids.

Meanwhile, in its board meeting, the CHB gave a nod to the sale of vacant residential land at Rajiv Gandhi Technology Park (IT Park) on a freehold basis for Rs 170 crore. The board decided that the sale of residential site no. 12 spread across 4.95 acres will be carried out through an e-tender process on a freehold basis, the Indian Express (IE) reported. The agenda had come up as there were no buyers for the sites that were put up for sale in the last few years.

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