A couple of days after the Chandigarh Housing Board (CHB) fixed Rs 90 lakh as the price for two BHK flats under the assured allotment scheme, property rates across the tricity have touched a new high.
Real estate agents confirmed a hike ranging between 10 and 15 per cent already. The prices have had a direct bearing on the property in the city’s periphery as well.
The scheme will be a boost to the property mafia, who would start bidding in every such scheme to make the property rates touch a new high. The higher bid would set the higher rates and with this, they (mafia) can sell their booked properties on much higher rates. Interestingly, the fresh rates will have an official bearing as these are being set by the CHB under its innovative scheme.
On the other hand, common man here feels that the scheme would prove harmful for the people with low income. For the low income class, owning a house in the city is a distant dream. The scheme has set official rate of around Rs 1 crore for two BHK flats here. Those middle class applicants who are not lucky enough to get house in the draw, would not be able to purchase a house at this rate.
The new rate by the CHB has given a boost to the rates even in the city’s periphery. He admitted that the property dealers and investors would use the scheme as a tool to increase the property rates in the area.
Part of the Dream Weave Walk Network 1998-2012