Chandigarh, April 7: The UT administration declared on Monday that 21 residential, commercial, and industrial properties will be available for e-auction starting May 15. This sale represents the first of four planned phases for the current financial year, with subsequent rounds scheduled for August, November, and February.
The first phase features a diverse portfolio, including prime residential plots in Sectors 20, 23-C, and 28-D, alongside service booths in Sector 43-B and industrial sites across all three phases of the Industrial Area. “The reserve price is being finalised and will be fixed as per the updated collector rates,” a senior estate official maintained, noting that the base values will reflect the recently hiked collector rates.
Future phases are expected to include high-value assets, such as a hotel site near the RBI building in Sector 17 and an SCO in Sector 24-D. Officials declared that the auction process is designed to attract wide participation while maintaining strict transparency standards through the electronic bidding platform.
The administration noted that while the auction is open to the public, certain allotments remain contingent on administrative clearances. “Allotment of certain sites will remain subject to conditions such as receipt of no-encumbrance certificates and area verification,” the administration asserted. Previous auctions have shown strong market demand, with some residential plots in Sector 19-B recently fetching bids up to 205% above the reserve price.
