Superb response in E-Tender of vacant dwelling units on Free-hold basis

Chandigarh, 03rd May 2021: The Chandigarh Housing Board invited e-Tenders for the sale of 109 Built-up Dwelling Units on a Free-Hold Basis. The units were available in Sector-38 (West), Sector-49, Sector-51, and Sector-63. The last submission of e-bids was 30.04.2021 at 02.00 PM and the Technical bids (first envelop) were opened on 30.04.2021 from 03.000 PM onwards.

All the 105 financial e-bids (second envelop) for 36 dwelling units were opened as per the schedule from 10.00 AM onwards Today. The detail of successful highest bidders has been uploaded on the website of the Chandigarh Housing Board A copy of the same is enclosed herewith.

Considering that there was total secrecy about the number of bids and the bid amount, the Chandigarh Housing Board could better competitive prices. For many of the dwelling units, though a single bid was received it was considerably higher than the reserve price. Hence e-Tender resulted in better revenue for the Chandigarh Housing Board. This is the first time that such a good response has been received. Some of the examples are as under:

  • Many units get a single bid but get the highest bid which is Rs. 8 Lakh to 11 Lakh higher than the reserve price.
  • Many of the units get the highest bids which are Rs. 12 Lakh to 15 Lakh higher than the reserve price
  • The maximum difference between Reserve price and Highest Bid is Rs. 18, 88, 991/- for a Three Bed Room flat in Sector-63
  • Minimum difference between Reserve price and Highest Bid is Rs. 74160/- two Bed Room flat in Sector-51

Here it is mentioned that:

  1. The total reserve price of the 36 Dwelling Unit was Rs. 26.58 crore while the total highest bids received against these units is Rs. 29.41 crores
  2. CHB has received an average of more than 10 % above the reserve price of these units. Hence the reserve prices were reduced by about 10% but the CHB could get a higher amount in the e-Tender.
  3. The sector-wise detail of 36 dwelling units sold is as follows:
  • Sector- 38(West)                    :        01 Unit
  • Sector-49                              :       02 Units
  • Sector-51                              :       17 Units
  • Sector-63                              :        16 Units
  1. The detail of a number of bids received is as under:
  • Single bid each for 12 dwelling units
  • Two bids each for 08 dwelling units
  • Three bids each for 07 dwelling units
  • Four bids each 04 dwelling units
  • Six bids each for 02 dwelling units
  • Eight bids each for 02 dwelling units
  • Twelve bids for 01 dwelling unit

Payment of 25 % amount by the Highest Bidder:

Here it is mentioned that the Terms & Conditions of the e-Tender, provide as follows, ‘The highest bidder will have to deposit 25 % (twenty-five percent) of the bid amount (after adjusting EMD) within five working days of the close of the bid. In case, the bidder does not deposit the required amount within the stipulated period then the EMD Shall be forfeited and the bidder shall not have any claim to it whatsoever. Further, the bidder will be blacklisted from bidding on any property of CHB in the future. The payment would be made through RTGS/NEFT to the following Account of the Chandigarh Housing Board.

Name of Bank – HDFC Bank Ltd., SCO 46-47, Sector-9 D, Chandigarh.

Bank Account No. 50100159943414

IFSC Code- HDFC0001306.

Alternatively, the payment of the 25 % bid amount can also be made online by visiting the website of the Chandigarh Housing Board The highest bidder is free to make more than a 25% payment. In case any assistance is required, the following officers may be contacted during working days between 11.00 am to 04.00 pm:

  • Shri Ravinder Kumar, Account Officer
  • Shri Alok Verma, Computer Programmer

Since the financial bids were opened today (03.05.2021), the highest bidder is required to make the payment by 10.05.2021 positively to avoid forfeiture of EMD and blacklisting from future tendering processes Chandigarh Housing Board.

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