CHB's auction: Limited success with property sales

14 Aug 2023 CW Team

Chandigarh Housing Board's (CHB) recent e-auction saw only four properties out of the 120 listed being sold. Among the offerings, four residential units out of 32 were successfully sold, while none of the 88 commercial properties found buyers. The auction generated a revenue of Rs 19.8 million, surpassing the total reserve price of Rs 1.88 crore. Commercial properties performed poorly in the auction, with the previous June 5 auction not witnessing the sale of any commercial properties among the 88 on offer. In an earlier April auction, only two out of 90 leasehold commercial properties were sold.

In a separate event, CHB distributed appointment letters to chosen candidates in a ceremony attended by UT administrator Banwarilal Purohit. During the event, Purohit presented appointment letters to the successful candidates and congratulated them on their accomplishments.

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