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Chandigarh: Even if the residents of the city are waiting for the conversion policy for their leasehold commercial Properties, UT Administration’s own agency, Chandigarh Housing Board ,CHB), is finding it difficult to get UT clearance for conversion of its leasehold properties.
In a latest bid to gain approval, the CHB has pledged to pay any conversion charges levied by the administration for its properties.
CHB CEO in a letter to the administration Yashpal Garg “CHB undertakes to collect the applicable conversion charges for commercial properties upon finalization of the formula,” the said.
It was in April that the CHB board of directors in a meeting decided to sell all residential properties allotted on leasehold basis on freehold basis. The properties were to be sold after depositing the applicable conversion charges. Similarly all commercial properties constructed by it on land plots allotted on leasehold by the administration were also to be sold on freehold after approval.
“Most of the properties available with the CHB were given on leasehold basis, and for converting these, the CHB requires administration approval and payment of conversion fee,” an official said.
After going ahead with its directors, the CHB wrote to the administration seeking permission to immediately start the sale of commercial units built on freehold basis.
“The issue has been hanging for all these months as the administration is yet to finalize the formula for levying charges. But for CHB this is turning into repeated poor response to auction of its leasehold properties,” said an official.
In its last auction of leasehold properties, out of 99 properties, only three got bidders. There was poor response for these units despite CHB reducing the reserve price by about 15% as compared to the previous e-tendering. Similarly, it could sell only three of the total 133 leasehold properties in the February auction. In January, it could not sell a single leasehold property out of 132.
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