The auction of commercial booths by Chandigarh Housing Board (CHB) on Tuesday proved a failure as none of the 45 sites could be sold.The auction was called off after a handful of bidders present there were unable to provide the mandatory three bids.
The commercial booths were to be given on leasehold basis, with a ground rent of 2.5% to be paid by the buyer on an annual basis, besides the bid amount, was one major reason for the poor response.
The bidders had to deposit security of Rs 2 lakh for the booths offered by CHB in Sector 38West, 49B and 51A. There were seven booths in Sector 38W measuring 30.31 square yard with a reserve price of Rs 33.28 lakh, eight of these in 49-B spread over 24.292 square yard with reserve price of Rs 35.10 lakh and eight in Sector 51A at Rs 35.08 lakh. The reserve price of corner booths was fixed a bit higher at all three locations.
Part of the Dream Weave Walk Network 1998-2010