CHB Flat Scheme at Sector-51A: Chandigarh Housing Board have received a low response from the applicants for its most awaited housing scheme. The authority had started the registration from 1 April for the allotment of 200 two-bedroom flats on a leasehold basis.
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From the first day of launch, only 400 applications have been sold from the six authorized bank branches in different parts of the city which have been designated for the sale of application forms priced at Rs. 2,000/- each. The scheme registration will close on 30 April 2016.
Under the scheme, the authority has fixed the price of a units at Rs. 69 lakh each which makes the scheme most expensive.
The scheme is launched after eight year but the authority failed to attract applicants for the flats in the scheme. In this scheme, the board allowing people residing in a circle of 25 kilometer from the notified boundary of Chandigarh to apply for the scheme.
CHB has offering 200 flats under two sub schemes. Of Total, 150 units are for general public and remaining 50 units are reserved under assured allotment scheme.
According to the statement of CHB Chairman, Maninder Singh, the board were expecting a better response and the slowdown in the market is the main reason for the low response. He, however, added that the board would go ahead with the allotment, irrespective of the number of forms sold.
Due to this slowdown in the real estate market, the administration has not conduct any auction since December 2009. In the last auction, the average price for residential sites shoot up to Rs 74,820 per square yard while for commercial sites the price went up to Rs. 2.74 lakh per square yard.
After few months later in 2010, the administrator had scheduled an auction, but at the last moments, it was cancelled.
Kamaljit Singh Panchi, president of Chandigarh Federation of Property Dealers, maintains that the flats which fall under middle income group (MIG) are over-priced. “Taking interest on loan into account, a flat will cost around Rs 80 lakh, which is too high,” said Panchi, adding that the administration should aim at providing affordable housing rather than acting like a developer.
In addition to Rs 69 lakh, Rs 50,000 shall be charged at the time of handing over of the possession.
The Chandigarh Master Plan 2031 has laid a lot of stress on providing affordable housing in the city.