Chandigarh civic body to auction Manimajra commercial sites in October 2022

September 17, 2022
Chandigarh civic body to auction Manimajra commercial sites in October 2022

CHANDIGARH: Next month, the municipal Corporation (MC), Chandigarh is likely to auction its commercial properties in Manimajra after getting the approval of the Chandigarh administration.

The general house of the civic body has already given its approval to auction the properties and the sources said now it needs the approval of the minutes of the meeting for the process of the auction to be started.

“The minutes of the meeting will be first confirmed by the general house members in the September meeting and then subsequently sent to the secretary home and local bodies of Chandigarh administration for approval.

The properties will be auctioned online only to avoid human intervention and the exercise will be done with the intension to invite maximum interested people,” sources in the MC revealed.

The civic body has prepared a list of 18 major commercial properties to be auctioned during this e-auction exercise. Since all properties are situated at key locations of Manimajra, the authority is expecting a good revenue from these properties. The financial estimates of the 18 properties has been prepared with the consultation of the engineering, finance and other related departments and according to its estimation, the civic body is expected to get Rs 61.71 crore as reserve price.

The reserve prices vary between Rs 3 crore and Rs 6 crore depending on the size and location. Besides one motor shop site and two restaurant sites, all properties to be auctioned are shop-cum-flats (SCFs). With approval from the administration, the MC has already earmarked SCF sites for the general trade.

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