CHANDIGARH: The Chandigarh administration plans to monetize approximately 1,000 vacant properties across the city beginning in the next financial year. This initiative aims to enhance revenue and promote optimal use of government-owned land and buildings.
The UT estate office has identified around 1,000 properties from residential, commercial, industrial, and institutional categories for potential auction, depending on market demand. This includes about 130 residential, 205 commercial, 168 industrial, five nursing home, and one institutional site.
According to senior UT officials, the administration anticipates generating over Rs 1,000 crore in revenue during the first half of the upcoming financial year through these auctions. Most residential properties selected for auction are situated in the southern sectors of the city, with Sector 37 having 12 sites, Sector 38 around 30 sites, and Sector 40 the highest at 38 sites.
Commercial properties will be distributed throughout various sectors, with a slightly higher concentration in the southern areas. Sector 39 contains the most commercial sites, totaling 15, followed by around 10 in Sector 40, and another 10 in the Industrial Area.
Notably, industrial zones represent a considerable portion of properties set for auction. Ten sites are identified in Industrial Area, Phase I, while around 60 are in Phase II, and Phase III is expected to have nearly 100 sites available.
The estate office intends to conduct monthly e-auctions. Officials noted that last year, the administration approved a monthly auction schedule, which has been submitted for approval for the upcoming financial year.
Over the past year, a thorough review was carried out to identify vacant properties, ensuring they were free from legal disputes and encumbrances. Reclaimed properties have also been recognized and prepared for auction.
The administration is aiming to make property auctions an annual norm, similar to the yearly revision of collector rates. This strategy is expected to reduce illegal occupation of government land, foster a healthier real estate market, and free up revenue tied to vacant properties that require maintenance.
In the previous year, approximately Rs 150 crore was generated from property auctions. Officials highlighted the advantage of having many commercial and industrial properties available on a freehold basis, as opposed to leasehold sites managed by the municipal corporation or Chandigarh Housing Board, which often attract less interest.
All auctions will take place via the e-auction portal. Properties that do not receive bids in any given month will be re-auctioned in subsequent months, officials reported.
