IT Park site auction: On April 30, the Chandigarh Housing Board will hold a pre-bid meeting

Posted by : admin / On : 30 Apr 2022

CHANDIGARH: On April 30, the Chandigarh Housing Board (CHB) invited potential bidders for an auction of a 4.95-acre freehold residential plot in IT park. CHBs CEO, Yashpal Garg, stated that prospective bidders had been invited. According to him, board officials will listen to prospective buyers before putting the plot up for e-auction in order to make this auction a success. Due to the inadequate response to the CHBs multiple auctions, the administration permitted the conversion of properties from leasehold to freehold and granted permission to allot its units on a freehold basis. The license was granted after the administration indicated that there is no regulation prohibiting government bodies from selling plots as freehold properties. At the most recent board meeting, authorisation was given for the sale of a vacant residential site in IT Park measuring approximately 4.95 acres through a transparent e-tender procedure on a freehold basis.

CHANDIGARH: On April 30, the Chandigarh Housing Board (CHB) invited potential bidders for an auction of a 4.95-acre freehold residential plot in IT park. CHBs CEO, Yashpal Garg, stated that prospective bidders had been invited. According to him, board officials will listen to prospective buyers before putting the plot up for e-auction in order to make this auction a success. Due to the inadequate response to the CHBs multiple auctions, the administration permitted the conversion of properties from leasehold to freehold and granted permission to allot its units on a freehold basis. The license was granted after the administration indicated that there is no regulation prohibiting government bodies from selling plots as freehold properties. At the most recent board meeting, authorisation was given for the sale of a vacant residential site in IT Park measuring approximately 4.95 acres through a transparent e-tender procedure on a freehold basis.