Chandigarh Housing Board Slashes Reserve Price of its Leasehold Properties

In view of a lukewarm response to its recent e-auctions, the Chandigarh Housing Board (CHB) has decided to reduce the reserve price of its vacant commercial and residential properties on a leasehold basis by 20 per cent and 10 per cent, respectively, for the next e-te

BY Realty Plus
Published - Saturday, 11 Sep, 2021

Chandigarh Housing Board Slashes Reserve Price of its Leasehold Properties

In view of a lukewarm response to its recent e-auctions, the Chandigarh Housing Board (CHB) has decided to reduce the reserve price of its vacant commercial and residential properties on a leasehold basis by 20 per cent and 10 per cent, respectively, for the next e-tenders. The decision was taken at a meeting of the Board of Directors, which was chaired by Dharam Pal, UT Adviser-cum-Chairman, CHB. The last three e-auctions for leasehold properties had received a tepid response. Only two units each were sold out of 149 commercial and 33 residential properties on September 1. The CHB could sell only three of the 151 commercial properties and five of the 38 residential units put up for auction on August 10. Similarly, nine of the total 156 commercial properties and two of the 11 residential properties offered by the board were auctioned on July 1. To allow further need-based changes in residential units, the board constituted a committee under the chairmanship of the Secretary, CHB, comprising members of the departments concerned of the UT Administration. “During the process, the committee may consult the nominated members of the board, RWAs and other stakeholders for some innovative solutions,” said the CEO. The report of the committee would be placed before the board for consideration and decision, he added. Thousands of allottees have been demanding regularisation of need-based changes/additional construction made in residential units and a one-time settlement on the Delhi pattern. Of the nearly 70,000 houses constructed by the CHB so far, need-based changes have been made in about 60,000 houses in which nearly 20 per cent population of the city resides. "In another decision, the engineering cost estimate of Rs643.64 crore for the General Housing Scheme at Rajiv Gandhi Chandigarh Information Technology (IT) Park has been approved in principle. The tentative cost of the flats would be worked out after the plan approval committee (upper) gives its nod to the detailed drawings. The board has also decided to fill 40 vacant posts of clerk through direct recruitment, and to enhance the existing ceiling of medical reimbursement to the retired employees from Rs50,000 per annum to Rs1 lakh per annum. The staff quarters for the employees would be renovated on the lines of improvement specifications of the houses of the UT Administration," said the CEO. Meanwhile, UT Adviser Dharam Pal stated that there was a need to get the market in Sector 61(Kajheri) where all commercial units were lying vacated assessed by some experts for exploring different options. “Since the whole market is lying unsold for more than 20 years, we need to revisit the whole plan. There may be many options like converting it either in a single plot or redevelop it as office-complex, etc,” he added.