The realtors in the Chandigarh city’s periphery eagerly awaiting the October 23 residential and commercial auction here in a bid to bolster their fortunes.
Since the property prices in the city have a direct bearing on the property prices in the adjoining towns of Zirakpur, Kharar and Dera Bassi, the auction is being keenly watched by the realtors, particularly big realtors, who have come up with mega housing projects in the city's periphery.Given its world class infrastructure, the property prices have been on the upswing in Chandigarh. During the last auction in December 2007, a 1 kanal plot in Sector 11 was sold for Rs 4.02 crore against the reserve price of Rs 1.48 crore. A 3 kanal plot in Sector 15-C had gone for Rs 8.18 crore while a 5 marla plot in Sector 44 went for Rs 61.5 lakh against the reserve price of Rs 39 lakh.
The 35 plots on offer in the auction include dimensions like 4 marla, 5 marla, 7 marla, 10 marla, 1 kanal and 2 kanals and would provide bidders a wide choice and the authorities a chance to earn big money.The commercial auction would offer booths, SCF and SCOs.
The auction would set the benchmark for the revision of the collectorate rate(official rates for the registration of property) and other issues related to the property in the city.
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