Chandigarh Housing Board auctions get poor response

22 Nov 2023 CW Team

Despite regularly holding auctions of its properties, Chandigarh Housing Board (CHB) has been consistently getting poor response from buyers.

Nearly a year ago, CHB had offered on auction its 92 commercial properties. Of these, it again offered 88 commercial properties last month, but failed to find any takers. The only commercial properties it last successfully auctioned were way back in April.

Notably, in February this year, the UT administration junked CHB?s request seeking permission to convert its commercial leasehold properties to freehold. The housing board has, however, fared comparatively better in terms of residential properties in the last year, though the response has been again less than encouraging.

Even after slashing the prices of its leasehold properties by 30 per cent to 40 per cent, there have been no takers for its commercial units. Even in residential freehold properties, after the reserve price cut, the buyer response has remained dismal.

In the November auction, out of 116 freehold residential and leasehold commercial properties on offer, only three units of former were sold.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..