The Estate Office, Chandigarh, conducted an e-auction of ten residential freehold plots on Monday, June 29, 2026. A one-kanal plot in Sector 21 was sold for Rs 18.88 crore, reflecting a premium of over 14% above its reserve price of Rs 16.52 crore. A 10-marla site in Sector 15-B was auctioned for Rs 8.33 crore against a reserve of Rs 8.23 crore, a marginal premium of 1.21%. The two plots together yielded Rs 27.21 crore, approximately Rs 2.45 crore above the combined reserve price of Rs 24.76 crore. However, eight of the ten plots attracted no bids and will be re-auctioned shortly.
Strong Demand in Prime Sectors
The Sector 21 plot was the standout performer. Deputy Commissioner and Estate Officer Nishant Kumar Yadav told The Tribune, 'A 14% premium over reserve price on a one-kanal freehold site in Sector 21 is an encouraging market signal. The unsold sites will be re-auctioned shortly and we expect broader participation in the next round.' Demand for government-auctioned residential plots in Chandigarh has consistently been concentrated in the city's heritage sectors, roughly Sectors 15 to 22, where Le Corbusier-era planning, mature green cover, proximity to the city centre, and established social infrastructure sustain valuations well above the Tricity average. Monday's result is consistent with this trend observed across successive Estate Office auctions.
Unsold Plots and Market Dynamics
The eight unsold plots were located in Sectors 20, 23, 27-D, 30-A, 37-A, 44, and 44-B. Their sizes ranged from 100-square-yard sites in Sector 44-B with reserve prices of Rs 3.30 crore each to a 500-square-yard plot in Sector 44 priced at Rs 16.58 crore. Property dealers and market observers noted that government reserve prices in the city's outer sectors now rival plotted development options in Mohali and Panchkula, dampening competitive bidding. The low bid-to-listing ratio, with only two of ten sites selling, is consistent with a pattern where Collector rate revisions and high reserve prices have progressively narrowed the buyer pool. The Estate Office had last revised Collector rates for residential sites earlier in 2026, pushing reserve prices for non-prime sectors into price bands that now rival or exceed comparable builder-floor offerings in the Tricity periphery.
Auction Process and Next Steps
The e-auction was conducted on the national portal eauction.gov.in. The auction window ran from 9 am to 11 am. Bidders were required to hold a Digital Signature Certificate and pay an earnest money deposit (EMD) through RTGS/NEFT. The notice had been published on June 2, with document and EMD submission closing on June 23. Fresh dates for re-auction of the eight unsold sites will be notified on estateoffice.chd.gov.in.
Salient Features
- Sector 21 (1 kanal): Rs 18.88 crore (14.25% above reserve)
- Sector 15-B (10 marla): Rs 8.33 crore (1.21% above reserve)
- Total yield: Rs 27.21 crore
- Premium over reserve: Rs 2.45 crore
- Sites unsold: 8 of 10
- Re-auction: Dates to be notified
