CHB to Invite E-Bids for Sale Of 159 Commercial & Residential Properties

Buoyed by the response received to the recent auction, the Chandigarh Housing Board (CHB) will soon invite e-bids for the sale of 159 commercial as well as residential properties in the city. CHB would soon invite e-bids for the auction of 113 commercial and 27 residential properties on a leasehold basis and 19 residential units on a freehold basis. After reducing the reserve price of its vacant commercial and residential properties on a leasehold basis by 20 per cent and 10 per cent, respectively, the CHB had invited e-bids for the sale of 191 vacant units 132 commercial and 31 residential units on a leasehold basis and 28 residential units on a freehold basis in September this year. During the auction held on October 19, the CHB sold 19 commercial and four residential units on a leasehold basis and nine residential units on a freehold basis to the highest bidders. The CHB had earned a total revenue of ?16.29 crores from the e-auction of nine residential units on a freehold basis and four residential and 19 commercial units on a leasehold basis against the total reserve price of ?14.54 crores of the units.