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The Chandigarh UT administration has set a reserve price of INR 11,850 per sq yd for auctioning nearly 7 acres of land in Manimajra, aiming to revive its land monetisation strategy. The plots, spanning residential, commercial, and institutional use, will be auctioned online, with residential plots 1-5 offered on a freehold basis and others on a 99-year leasehold. The administration has also sought Union Cabinet approval to allot land at collector rate for constructing 3,930 self-financed apartments for UT employees. The Municipal Corporation expects to generate over INR 400 crore from an upcoming auction in nearby pocket 6.
The Chandigarh administration has set the collector rate at INR 11,850 per sq yd as the base price for e-auctioning close to 7 acres of prime land in Manimajra. This development follows detailed coordination between the UT Estate Department and the Municipal Corporation (MC), with official communication clarifying that if any previous auctions were unsuccessful, the 'unearned increase' would be calculated based on the average auction prices over the last three years. Advertisement
The land parcels-comprising residential, commercial, and institutional plots will all be auctioned online. Of these, residential plots numbered 1 to 5 may be sold on a freehold basis, while the remaining plots, including those earmarked for commercial or nursing home use, will be offered under a 99-year leasehold model. This flexible auction structure is intended to attract a wider range of bidders from both private and institutional sectors.
The administration has also written to the Union Cabinet, seeking permission to transfer land at collector rate for the construction of 3,930 self-financed apartments. These homes, targeted specifically for UT employees, are part of a proposed redevelopment scheme. A similar approach had been adopted in 2017 when the administration used a collector rate of INR 74,131 per sq yd to allot land to the Chandigarh Housing Board, raising over INR 2,200 crore through leasehold allotments.
Adding to this revenue strategy, the MC is also gearing up to auction pocket 6 in Manimajra-an area close to Panchkula where zoning approval has already been secured for multistorey apartments. Officials estimate that the sale of this site could yield over INR 400 crore, which would significantly bolster the city's finances.
After a gap of nearly two decades since Chandigarh last auctioned Manimajra land, this renewed push is seen as both a fiscal necessity and a calculated attempt to reinvigorate local real estate activity. The auctions are expected to attract strong interest from builders, housing societies, and institutional buyers.
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