Bids for Chandigarh housing units can be submitted by May 31
Real Estate

Bids for Chandigarh housing units can be submitted by May 31

The Chandigarh Housing Board (CHB) has set up five help desks to help the bidders for the e-tender of 79 household units in various parts of the city, and about 200 expected bidders have already visited the CHB units.

On May 17, through the e-tender process, the CHB began the auction procedure of 79 freehold housing properties in the different sectors of the city. Bidders can submit their bids regarding the properties by May 31.

The CHB has made a list of 270 properties for sale, with 11 residential (leasehold), 109 residential (freehold), and 150 commercial (leasehold).

The board started the auction of freehold units first, and at later stages, the remaining properties will be up for sale.

To receive a good response, the CHB decreased the reserve rate of the properties by 10% because at the 2019 auction, due to high prices, not even a single bidder showed interest in both residential and commercial properties.

This year, the CHB has decided to sell properties with an e-tender process instead of the e-auction. In an e-auction, the earnest money deposit (EMD) for participation can not be paid online.

A bidder deposits the same in the CHB account and presents proof. A CHB officer verifies the payment before permitting the bidder to participate in the e-auction procedure.

Therefore, the number of bidders for a particular property and their identity is not entirely confidential.

However, in e-tender, there is no need for any permission, and online payment can be made for EMD. So, there is full privacy about the number of bidders and their identity.

CEO of the Chandigarh Housing Board, Yashpal Garg, said that they included six freehold properties in the upcoming auction and 79 freehold units in total have been put up for auction.

He further added that the board had chosen secrecy in the last auction, and the same formula will be performed this time too.

A senior CHB official told the media that they are hopeful of a good response in the following days.

People are coming to these help desks and enquiring about house units. An individual help desk has been set up at each sector 38 (west), 49 and 51, and two at Sector 63.

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Also read: Home sales plunge in April-May due to second wave of Covid-19

Also read: CIDCO housing scheme: Allotment to begin from July 1

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