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The Ministry of Interior (MHA) suspended commercial and industrial real estate auctions in Chandigarh for three weeks.
In a letter addressed to the Finance Secretary The administration of the UT Interior Ministry has asked for some clarification on the issue. The UT Finance Minister has written to MD Chandigarh Industrial and Tourism Development Corporation Limited (CITCO), MC Commissioner, Real Estate Officer and Chandigarh Housing Board (CHB) will not bid any real estate for at least three weeks.
MC postpones the auction
Chandigarh Municipality Company It will auction 18 commercial sites in Manimajra this month. has been postponed Last month, MC General House approved the auction of 18 condos for stores (SCF) in Manimajra via electronic auction.
A senior MC official said, “We will be auctioning the property in October. and now after the letter it was postponed The total real estate booking price is approximately ₹62 million. SCF reserve area of 110 sq m. is approximately ₹3 ten million while the reserve price of the 225 square meter SCF is ₹6 ten million
CHB withdraws one property auction
After the letter The Chandigarh Housing Board (CHB) has withdrawn bids for one commercial property in Sector 51 while auctions for 177 leasehold residential and commercial properties are ongoing.
Yashpal Garg, CEO of CHB, said: “We have withdrawn one commercial property in Sector 51 after the letter, while the other auctions have been withdrawn. of leasehold and freehold residential properties is ongoing.”
Converting Leasehold to Freehold
Last month, the MHA asked the Supreme Court for three months to formulate a policy on the conversion of industrial and commercial leasehold land to freehold in Chandigarh.
During a meeting last month, KKU informed the UT management that the letters sent by the management on April 13, 2021 and August 20, 2022 did not contain a comprehensive and detailed proposal or draft project for conversion. industry or Commercial property from leasehold ownership Because the issue is related to important policy. Appropriate policy decisions can only be taken with relevant stakeholders only after a detailed proposal or project draft has been received from Chandigarh’s management.
In a response sent to the MHA on August 20, management submitted a detailed proposal to the MHA to convert the leasehold property into freehold. (Commercial/Industrial) Sept. 13. “This is an important policy decision. The Ministry of the Interior considers the established legal procedures and consults with all relevant stakeholders,” UT submitted.
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