After failing to dispose of its vacant commercial properties for the past several years, the Chandigarh Housing Board (CHB) is all set to auction them online again next month.
In May last year, the board had failed to rent out its 142 unsold booths and other shops. Not even a single bid of the total 1,060 bids received was found worthy of the CHB’s primary criterion of rent assessment. A major reason behind the CHB’s failure to dispose of properties is these are auctioned on leasehold basis, and as per the directions of the central excise and taxation department, the service tax will also be charged from the buyers with effect from last year.
TATKAL SERVICE ALREADY IN PLACE
To facilitate nearly 3,400 commercial property holders in the city, the CHB had started a tatkal service in December last year.
As per the service, a property can be transferred within seven working days. Allottees will have to pay Rs 1 lakh for the transfer of convenient shops and small booths, while Rs 2 lakh for bay shop/shop-cum-flat. Earlier, the allottees had to wait for nearly six months after applying for the transfer of their properties.
Credits Hindustan Times