Chandigarh administrator gives approval for auction of freehold property : The Tribune India

Tribune press service

Chandigarh, February 10

After securing approval from UT administrator Banwarilal Purohit, UT administration will now be able to auction off its unsold commercial and industrial properties and freehold retirement home sites.

Currently, residential properties are auctioned on a freehold basis, while commercial, industrial and retirement home sites are auctioned on a lease basis. After Administrator’s approval, UT permitted online auction of Residential, Commercial, Industrial and Nursing Home sites under the provisions of the Capital of Punjab (Development and Regulation) Act 1952 and Chandigarh Succession Rules, 2007, as amended from time to time.

In accordance with the provisions of the said Act and these rules, sites/buildings in Chandigarh are to be sold by auction or allotment, either in full ownership or on lease.

Almost all unsold and vacant commercial, industrial and nursing home sites with different departments such as the Real Estate Office, MC and CHB are leasehold properties and the departments have failed to attract buyers for the properties on lease.

Welcoming the decision, JD Gupta, Chairman, and Kamaljit Singh Panchhi, Chairman, Property Federation, Chandigarh said it was a long pending request and they were happy with the decision. —

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