In Chandigarh, 30 out of 340 houses up for bidding, allotment confirmed, Real Estate News, ET Real Estate

Chandigarh: Under its Sector 53 housing scheme, Chandigarh Housing Board ,chb) will introduce an ‘Assured Allocation Scheme’ (AAS) parallel to the regular scheme it is preparing to launch before the end of March.

Of the total 340 flats on offer, 30 apartments will be reserved under the scheme, for which allotment will be done through a bidding process. In other scheme where 310 apartments will be available, allotment will be done through computerized draw.

In AAS, top 10 bidders in 3BHK category and top 20 bidders in 2BHK category will be assured of allotment. Of the 192 3BHK apartments, 20 will come under AAS, and 100 of the 2BHK will come under 10 AAS.

“AAS is designed for those who want assured allotment and are willing to pay more than prescribed in the scheme. In case of shortage of applicants, the surplus housing units will be sold through a new bidding process which will be opened separately for all. Unsuccessful bidders will be included in the general scheme,” said an official.
As per the AAS, the applicants have to mention the amount at which they are willing to buy the units.

“However, the quoted price should be higher than the reserve price. The quoted price should be submitted in a sealed envelope along with the application form. The quoted price should be in multiples of Rs 50,000,” the official said. The allotment will be done at the actual price.

There are 20 units set up on the ground floor in the 3BHK category. In the 2BHK category, there are 10 housing units on the first floor, the lowest floor with stilt parking on the ground floor.

If the applicant withdraws before bid opening, 10% of the initial deposit will be forfeited. “If a successful applicant withdraws/surrenders, the entire initial deposit (earnest money) will be forfeited and the units will be sold through a fresh bidding process,” the official said.