Chandigarh : On the subject “CHB AUCTION TURNED OUT TO BE FLOP SHOW, The Property Consultant Association Chandigarh, held a meeting to ascertain reasons for such a low response to the auction even after declaring the property as FREEHOLD. THE CHB COULD SELL ONLY 4 PROPERTIES OUT OF 35 PUT ON AUCTION SITE. Record speaks that this is happening since last over 2 years.
The issue was discussed in length & all the members unanimously opined reason AS HIGH COLLECTORATE which determine Minimum Reserve Price & furthering auction response of the properties. Earlier the reason assigned for such auction as failure was Leasehold Sale.
Taking up view point of few members, it was rightly noticed that CHANDIGARH IS NOW NOT CONSIDERED AS PREFERRED CITY as adjoining areas MOHALI & PANCHKULLA is deemed as better option due to all round progress besides much low collectorate. The double FAR further reduces the end rates indirectly hence preferred by RESIDENTIAL & COMMERCIAL ASPIRANTS.
The Property Consultants Associates suggests that CHB OR CHANDIGARH ADMN may first reduce the collectorate to be near at par with adjoining areas MOHALI & PANCHKULLA & then put on auction any property for instant better results.
