Chandigarh Municipal Corporation Initiates E-Auction for Over 100 Commercial Properties
The Chandigarh Municipal Corporation has officially commenced the process to rent out more than 100 commercial properties spread across the city. This initiative involves launching e-auctions for several key sites, with the remaining properties slated to go under the hammer within the next 7 to 10 days.
Properties Included in the E-Auction
The extensive list of properties earmarked for rental includes:
- 39 booths located in Sector 17
- The Smart City office building situated in Sector 17
- 40 booths in Mauli Jagran
- Over a dozen booths in the underpass connecting Sectors 17 to 22
- Seven nurseries at various locations throughout Chandigarh
Rental Pricing and Reserve Rents
The rental prices for these properties vary significantly based on type and location:
- The Smart City building commands a reserve rent of Rs 30 to 35 lakh per month, reflecting its prime commercial value.
- Nurseries are priced between Rs 70,000 and Rs 90,000 per month, depending on their size and facilities.
- Subway booths have a base rent of Rs 26,000 per month.
- Booths in Sector 17 range from Rs 19,000 to Rs 22,000 per month.
- Booths in Mauli Jagran are the most affordable, priced at Rs 5,000 per month.
Previous Challenges and Adjustments
This move comes after the Municipal Corporation faced difficulties in attracting bidders for many of these properties in earlier attempts. To address this, following repeated efforts and approval by the general house, the base price for over a dozen underpass booths was reduced by 20% to make them more appealing to potential tenants.
Current Status and Future Plans
Of the 105 booths in Mauli Jagran, 65 are already occupied, and the corporation is now focusing on renting out the remaining 40. Additionally, paperwork for the e-auctioning of the seven nurseries is nearing completion, indicating swift progress in the overall process.
Officials from the Chandigarh Municipal Corporation stated, "We are in the final stage of documentation for the 40 booths and seven nurseries. These will be e-auctioned within the next week to 10 days. The booths will be allotted in their existing condition, and any repair work can be carried out by the occupants."
Identified Properties for E-Auction
- Booth in Sector 17
- Booth in Mauli Jagran
- Smart City office building
- Booth at underpass of Sectors 17 and 22
- Nurseries
This strategic initiative aims to optimize the use of municipal assets and boost local commercial activity in Chandigarh.
