Sector 40 residential plot auctioned for Rs 4.50 crore

The 528 square yard residential plot in Sector 40 was auctioned for Rs 4.50 crore against the reserve price of Rs 3.71crore, in the auction of properties by the UT Estate office. The process of auction was completed on Monday evening. This auction was held after the gap of nine years. Sources revealed that all 10 freehold residential sites were auctioned over and above the reserve price fixed by the UT Estate office. There was poor response in the auction of commercial properties as only one property was auctioned. According to experts, the poor response of commercial properties was because properties were leasehold.