Chandigarh Housing Board in its board meeting approved sale of vacant residential land in Rajiv Gandhi Technology Park (IT Park) on freehold basis, that too for Rs 170 crore.
The agenda had come for board approval as there was no one to take the land on the basis of leasehold.
It was announced that the vacant residential site no. The work of 12 with an area of about 4.95 acres will be done on freehold basis through transparent e-tendering process.
To attract more buyers, for simpler terms and conditions, it was also announced that the buyer would be given the necessary flexibility in construction and would be allowed to pay the entire bid amount in installments over a period of about five years. This situation was brought about because in the last few years there was no one to take over the sites put up for sale. Leasing was another hurdle.
Now transfer entry in the CHB record in case of freehold units is also to be done on the basis of the registered sale deed and an affidavit will be made from the transferee to be responsible for all the existing building violation issues and ongoing proceedings.
Therefore, in the case of freehold units, the issue of building violation has been separated from the transfer of such units, it was decided. The administration was also requested to allow sale of all properties of CHB on freehold basis, even in cases where land was allotted to CHB on leasehold basis.
In 2015, CHB got back 123 acres of land from real estate company Parsvnath Developers after a protracted legal battle. In October 2006, the board decided to develop the site with Parsvnath Developers. But, the project could not start. Later in 2015, the CHB took back the land by paying Rs 560 crore. Thereafter, there were plans to develop a housing colony, five star hotel, gym, swimming pool, club, community center and marriage hall on 123 acres. The project comprises a 4.95-acre residential site that will be put up for sale.
Due to the poor response of CHB in various auctions, the administration allowed conversion of properties from leasehold to freehold and allowed its units to be allotted on freehold basis. The administration said there was no such policy that would prohibit the sale of plots by government agencies as freehold properties.
The response to various auctions of leasehold properties has been very poor, with no takers. Ownership rights in leasehold properties remain with government agencies such as the property office (EO), municipal corporation (MC) and Chandigarh Housing Board (CHB), while freehold status gives the owner complete rights to the property. The administration was repeatedly pressured to allow the sale of vacant and unsold leasehold plots as freehold.
tender
After getting approval from the Board in the morning, an e-tender was issued for sale of 16 manufactured units – all on freehold basis. Of these, eight were residential units and eight commercial units.