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Home Chandigarh 3BHK flat in Sector 63 goes for Rs 1.05 crore

3BHK flat in Sector 63 goes for Rs 1.05 crore

Press Reporter News Service

Chandigarh, Might 3

The Chandigarh Housing Board (CHB) has acquired an amazing response to an e-auction of vacant dwelling items on a freehold foundation.

The CHB acquired the best bid of Rs1.05 crore for a three-bedroom flat in Sector 63 towards the reserve value of Rs86 lakh. Equally, two extra three-bedroom flats in Sector 63 went for over Rs1 crore towards the reserve value of Rs86 lakh.

Yashpal Garg, CEO, CHB

For lots of the dwelling items, although a single bid was acquired, it was significantly larger than the reserve value. The e-tender resulted in higher income for the CHB. That is the primary time that such a great response has been acquired.

The board had invited e-tenders for the sale of 109 built-up dwelling items on a freehold foundation. The items have been out there in Sector 38 (West), Sector 49, Sector 51 and Sector 63. The CHB acquired 105 monetary e-bids for 36 dwelling items.

“For lots of the dwelling items, although a single bid was acquired, it was significantly larger than the reserve value. The e-tender resulted in higher income for the CHB. That is the primary time that such a great response has been acquired,” stated Yashpal Garg, Chief Government Officer, CHB.

Because of the excessive value of flats, in December 2019, the CHB had did not evince curiosity in patrons for its 212 properties. To draw patrons, the CHB needed to cut back the reserve value of the flats by about 10 per cent.

The board earned a complete income of Rs29.41 crore towards the entire reserve value of Rs26.58 crore of the 36 dwelling items. The CHB acquired a median of over 10 per cent above the reserve value of those items. Garg stated many items acquired a single bid, however nonetheless the best bid was Rs8 lakh to Rs11 lakh larger than the reserve value.

Many items acquired the best bid of Rs12 lakh to Rs15 lakh larger than the reserve value and the utmost distinction between the reserve value and the best bid was Rs18,88,991 for a three-bedroom flat in Sector 63. The minimal distinction between the reserve value and the best bid was Rs74,160 for a two-bedroom flat in Sector 51.

A single bid every was acquired for 12 dwelling items, two bids every for eight items, three bids every for seven items, 4 bids every for 4 dwelling items, six bids every for 2 dwelling items, eight bids every for 2 dwelling items and 12 bids for one dwelling unit.

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