Friday, December 18, 2009

One-kanal plot fetches Rs 4 cr in auction

n the auction of residential sites on Wednesday, plots fetched a much higher price compared to the last auction in October 2008.Of the 42 residential plots, 33 were auctioned. On Thursday, 89 commercial and 12 restaurant sites will be auctioned.

The highest amount, Rs 4.06 crore, was fetched by a 1 kanal plot in Sector 19-B. Compared to last year’s auction, prices escalated from Rs 60.60 lakh to Rs 89 lakh for a 4-marla plot; Rs 83 lakh to Rs 1.40 crore for a 5-marla plot; Rs 1.71 crore to Rs 2.35 crore for a 10-marla plot; and Rs 3.84 crore to Rs 4.06 crore for a 1 kanal plot — Rs 4.06 crore is an all time high price for a 1 kanal plot in Chandigarh. Plot no. 1288 (1 kanal) in Sector 19-B, against the reserve price of Rs 1.14 crore, the plot fetched Rs 3.84 crore. Plot no. 523 (5-marla) in Sector 32-A against the reserve price of Rs 43.30 lakh, the plot fetched Rs 1.4 crore. Plot no. 1352 (10-marla) in Sector 40-B fetched Rs 2.11 crore against the reserve price of Rs 84 lakh. Another 4-marla plot in the same sector fetched Rs 89 lakh against the reserve price of Rs 33.10 lakh.

Maximum competition was seen in the 1 kanal and 10-marla categories of plots. These plots fetched nearly three times their reserve prices. Prices of 10-marla plots varied between Rs 2.03 crore and Rs 2.32 crore, and between Rs 3.60 crore to Rs 4.06 crore in case of 1 kanal plots.

Three adjoining 10-marla plots in Sector 37-B were sold for Rs 2.26 crore (plot no. 1121), Rs 2.30 crore (plot no. 1122) and Rs 2.32 crore (plot no. 1123). Soon after, the 1-kanal plots started fetching Rs 3.80 crore and above.

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