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Ramkrishan Upadhyay
Tribune News Service
Chandigarh, September 17
The UT Administration has fixed the reserve price of commercial and residential sites which it intends to e-auction.
The Estate Office has started the process for the auction after nearly 10 years. The last auction was held in 2009.
Sources said the Estate Office had decided to auction 43 residential and 30 commercial sites, besides three nursing home sites and an industrial site. The reserve price had been fixed as per the prevailing collector rates of the properties.
The Estate Office has fixed a reserve price of Rs 7,53,78,732 for a plot measuring 1,014 sq yards (two kanals) in Sector 33-C. Likewise, the reserve price of a plot measuring 500 sq yards (one kanal) has been fixed at Rs 3,72,06,169.
This time, two plots of two kanal, three plots of one kanal and some plots of different marlas have been included in the auction list.
The reserve price of a commercial property, measuring 122.91 sq yards, in Sector 27 has been fixed at Rs 3,79,64,441. A majority of the commercial properties that have been included in the auction are in Sector 39 and 40.
Of the 30 commercial properties, three are in Sector 36, two in Sector 42, three in Sector 44 and 10 in Sector 39-D. Commercial properties include booths and SCOs.
Sources said the Estate Office was likely to hold an e-auction as it had got approval from the Administration. JD Gupta, a property consultant, said the Estate Office might not get the desired response for the commercial properties as the reserve price was fixed on the basis of the collector rates, which were very high. Besides, the property was not freehold.
The last auction of properties was held in 2009. Since then, the UT planned an auction four times, but could not conduct it for fear of earning less revenue. In 2009, the UT had earned Rs 60 crore from 12 commercial properties, and Rs 40 crore from 33 residential plots. Plot number 1289 in Sector 19 was the costliest. The 1-kanal plot was auctioned for Rs 4.06 crore.
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