In a major push to revive Chandigarh’s real estate market, the UT Administration has decided to e-auction 10 residential sites located in various parts of the city on a leasehold basis.
According to officials, the auction process will start on Tuesday. Interested buyers can submit their documents and earnest money deposit (EMD) from June 2 to 23. The documents would be examined from June 24 to 26 and the auction would start at 9 am on June 27 and conclude at 11 am on June 29, stated the officials, adding that pre-bid seminars would also be conducted on June 6 and 7 from 3 pm to 5 pm in the committee room of the UT Estate Office.
In the first phase, only 10 residential sites would be put up for auction, they added. The sites are located in Sectors 15-B, 20, 21, 23, 27-D, 44, 30-A, 37-A and 44-B and the size of plots ranged from 100 yards to over 500 yards. The Estate Office will charge additional 5% for corner or park-facing sites.
Earlier, the UT Administration had decided to first clear all sites of trees and overhead electricity cables. The decision was taken to give encumbrance-free possession of the sites to the allottees immediately after completion of the auction process unlike last year. Of the total 14 residential sites put up for auction last year, three one kanal sites had fully grown trees, which delayed the possession of these sites to allottees.
This year, directions were issued to the Municipal Corporation, Engineering Department and the Forest Department to clear the sites of trees and overhead electricity cables, if any, before the start of the auction process.
In a first-of-its-kind initiative, the UT Estate Office has prepared a year-long calendar on the auction of residential, commercial and industrial properties across the city. The first phase of auction, covering April to June, was scheduled to commence on May 15. After getting approval from the competent authorities, a detailed phase-wise schedule was prepared, enabling prospective buyers to plan participation in e-auctions well in advance. The move is aimed at streamlining the auction process and eliminating the need for repeated notifications.
According to the plan, auctions will be conducted in four phases during the fiscal 2026-27, with each phase scheduled every three months. In total, around 40 residential plots, 40 commercial sites, including booths and SCOs, and 40 industrial plots will be auctioned during the year.
The residential plots earmarked for auction are located in prime sectors and measured 4 marlas to over 2 kanals. During the auction last year, 13 residential plots had fetched Rs 168.85 crore — more than double the reserve price of Rs 75.29 crore.
