Poor response to auction of booths at Mauli Jagran

Tribune News Service

Chandigarh, February 15

Only two booths out of 107 booths in Mauli Jagran could be auctioned today.

The Municipal Corporation held auction of booths/shops at Mauli Jagran on leasehold basis for 99 years. Officials said booth number 10 and 11 were auctioned for Rs 18.52 lakh and Rs 18.53 lakh, respectively.

The booths have been lying vacant for the past several years as buyers find the market price too high and sale prospects too less.

The minimum reserve price of 11.49 sq m booth is between Rs 15.75 lakh and 18.42 lakh depending upon its location.

The previous auction had got a poor response as only five booths could be auctioned. Then, the highest bid was of Rs 24 lakh. From these five booths, the civic body had earned Rs 1,00,53,000.

During an MC House meeting, councillors had suggested that the reserved price of these booths may be reduced to Rs 5 to 6 lakh so that these do not remain vacant.

The civic body has often been criticised for failing to auction its booths in different locations despite several bids. There were no takers even for its booths in Sector 17.