Chandigarh: 18 commercial properties to be auctioned after Diwali

CHANDIGARH: The estate branch of the municipal corporation (MC) will auction its 18 commercial properties costing Rs 61.71 crore in Manimajra after Diwali.

The UT administration has given the nod to dispose of the properties on freehold basis after it had earlier asked the civic body to halt the process.

“We have decided to initiate the steps to auction the sites that are in good location and big in size. We are hoping to secure a good amount. Officials have been asked to make arrangements for the auction,” sources said.

Besides one motor shop and two restaurant sites, all properties to be auctioned are shop-cum-flats (SCFs). Reserve prices vary from over Rs 3 crore to Rs 6 crore according to size, location and other criteria.

All the properties would be sold through e-auction only. The civic body has drafted the terms and conditions. The MC would set up a help desk to provide information to people interested in participating in the e-auction. Interested bidders would have to upload required documents before the last date of the submission.