Chandigarh Housing Board introduces Assured Allotment Scheme in Sector 53

The Chandigarh Housing Board (CHB) is introducing an 'Assured Allotment Scheme' (AAS) as part of its Sector 53 housing scheme. The AAS will be launched before the end of March and will run alongside the regular scheme. Under the AAS, 30 of the total 340 flats on offer will be reserved and allotted through a bidding process. The other 310 flats will be allotted through a computerised draw of lots.

The AAS has been designed for people who want assured allotment and are willing to pay a higher price than the prescribed amount in the scheme. The top 10 bidders in the 3BHK category and the top 20 bidders in the 2BHK category will be assured of allotment. Of the 192 3BHK apartments, 20 will come under the AAS, and in the 100 2BHK, 10 will come under the AAS.

Applicants under the AAS will be required to quote the amount at which they are willing to purchase the units. However, the price quoted should be higher than the reserve price, and it should be submitted in a sealed envelope along with the application form. The quoted price should be in multiples of Rs 50,000. The allotment will be made at the actual price quoted.

The ground floor of the 3BHK category has 20 units earmarked, and the 2BHK category has 10 units on the first floor, the lowest floor with stilt parking on the ground floor. If an applicant withdraws before the opening of the bid, 10% of the initial deposit will be forfeited. If a successful applicant withdraws or surrenders, the entire initial deposit will be forfeited, and the unit will be sold through a fresh bidding process.

If there is a shortfall of applicants in the AAS, surplus dwelling units will be sold through a fresh bidding process opened to all. Unsuccessful bidders will be included in the general scheme. The introduction of the AAS provides an additional option for those looking to purchase flats under the Sector 53 housing scheme, and it offers an assured allotment to those willing to pay a higher price. The CHB is hoping that the scheme will be successful and that it will help to increase participation and interest in the housing scheme.

Next (Labdhi Lifestyle to take over Rajesh LifeSpaces project in BKC, Mumbai)

Chandigarh Housing Board introduces Assured Allotment Scheme in Sector 53

This Month

Overview

Explore

Join Us