Chandigarh to conduct e-auction of 26 properties on Nov 13 and 14

The Union Territory of Chandigarh administration estate office is hoping to mop up Rs. 65 crore from the e-auction of 11 residential, 14 commercial and one industrial properties. The office has high hopes from the residential properties, whose total reserve price adds up to Rs. 27.59 crore, as all of them are freehold and anyone who buys them will not have shell out the exorbitant leasehold-to-freehold conversion fee which is charged by the administration.

The total reserve price of the commercial and industrial properties comes to Rs. 15.1 crore and Rs. 33 crore, respectively, but they are leasehold.

Earlier, the estate office had kept October 31 as the last date for registering for the e-auction. However, the estate office pushed back the auction from November 4 and 5 to the present dates. Since the estate office has been getting numerous genuine queries from the public the date of the e-auction have been post-poned.

According to Manish Lohan, Assistant Estate Officer (AEO) of the UT, this was a good opportunity for people to buy dispute-free properties in Chandigarh at reasonable rates.