Reduce collector rates, CBC urges Chandigarh Administration

Chandigarh, May 27

The Chandigarh Business Council (CBC) has written to the UT Administration in connection with recent flop auction of properties of the Chandigarh Housing Board (CHB), in which out of 35 properties only four properties were auctioned.

Chander Verma, president, CBC, an apex trader body of Chandigarh, submitted that there was a need to ascertain reasons for poor response. Despite converting property status from leasehold to freehold, there were hardly any takers for residential and commercial properties, Verma said.

The issue was also discussed in the meeting of CBC, and the members who were present in the meeting unanimously opined reason as high collector rates which determine minimum reserve price and further auction response of the properties.

CBC members also discussed that Chandigarh was now not being considered as preferred city as adjoining areas of Panchkula and Mohali were deemed as better option due to all-round progress, besides much low collector rates. Besides the double or more floor area ratio (FAR) reduces the final rates and indirectly hence preferred by aspirants of residential and commercial properties.

They suggested that CHB and UT Administration or departments like Estate Office should first reduce the collector rates, which should be at par with Panchkula and Mohali, and then put on auction any property for instant better results.