When the sealed bids for 10% 'assured allotment flats' of Chandigarh Housing Board (CHB) in Sector 51 were opened on Monday, the phenomenal prices Rs 1 crore (twice the actual cost) to own a two-bedroom (MIG) was quoted by applicants.
While the highest price offered for the ground floor was Rs 1 crore, other bids were Rs 95.4 lakh, Rs 91 lakh, Rs 87 lakh, two bids of Rs 85.5 lakh, and the last one quoting a price of Rs 85.01 lakh.
For the first floor, the highest price was Rs 97 lakh, followed by Rs 96 lakh, Rs 91 lakh, Rs 86 lakh, and two bids of Rs 85 lakh, Rs 82 lakh and the last one for Rs 79 lakh.
As per the formula announced of the housing scheme, average of the eight highest bids was calculated to arrive at a common price tag of Rs 89.5 lakh for the ground floor and Rs 87.5 lakh for the first floor. Applicants who have quoted prices lower than this will be given a chance to reconsider their offer and pay this much in case they want to own a flat.
Out of the total 160 general category flats, 16 were kept aside for assured allotment by the housing board. The upfront money paid by the applicants (Rs 10 lakh) will be forfeited in case of those not accepting the offer.
This development has come as a shot in the arm for those planning to sell their flats at high prices in the area. Those who were earlier asking for a price of Rs 80-85 lakh in these sectors would now seek Rs 1 crore to 1.25 crore.Those who will get allotment of remaining flats for Rs 50 lakh in the draw will ask for a minimum Rs 1 crore.
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