Construction Industry News
The board of directors of the Chandigarh Housing Board (CHB) approved a cut in minimum prices and on Friday ordered an e-tender for 163 rental properties, both residential and commercial, and 28 owned properties.
To participate in the e-tendering process, the bidder must be a resident of India and over 18 years of age. However, non-resident Indians (NRIs) can also participate in the bidding for the purchase of a home.
Eligible bidders must submit their bids from September 15 to October 8 from 10am. The bids for the total of 191 homes will open on October 8 at 10:15 AM.
Due to the poor response to the e-tender of commercial and residential properties on a ground lease, CHB decided in a board meeting to lower the reservation price of vacant properties. It will be valid for commercial and residential properties on a long lease with 20% and 10% respectively.
The e-tender issued for the objects includes 28 homes on private land, 31 homes on a long lease basis and 132 commercial spaces on a long lease basis. Recently, the CHB board received a poor response for homes and commercial properties on a long lease in an auction.
On a freehold basis, the real estate auction was better, selling 34 units. People show little interest on the basis of ground lease, because of the ground rent that has to be paid on it.
CHB has sold 118 properties in the past five months and received a bid amount of Rs 88.23 crore.
251
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1199
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