Chandigarh Housing Board scraps Sec 53 scheme over poor response

The Chandigarh Housing Board (CHB) in its board meeting on Thursday scrapped its costliest general housing scheme in Sector 53 over poor response from the people.

Only 178 applications were received against the 492 flats on offer. The scheme offered 3 BHK flats for as high as ₹1.8 crore, 2 BHK flats for ₹1.5 crore and 1 BHK flat for ₹95 lakh. The board slashed the proposed rates by 15% to attract more buyers but it did not work.

The board has decided to refund the processing fee of all applicants and plan the scheme afresh in order make it more affordable for the residents. CHB CEO Yashpal Garg said the board will approach the UT administration to increase the floor area ratio (FAR) for the scheme. It will help construct more flats and frame the new scheme with lesser cost per flat, he said.

“The new plan is subject to the approval from UT administration. In case the approval does not come, the chance of refloating it does not seem certain,” Garg added.

Sunil Kumar, general secretary, Chandigarh Properties Consultant Association, said the rates fixed by CHB in the housing scheme were much higher than the market rates. Till the time rates are not rationalised. the scheme will not attract buyers, he said.

CHB board member Prem Kaushik said the scheme must be affordable for general public, otherwise it will have no future. “When 3 BHK flat is available at ₹1 crore in the UT, why would people buy it at a higher price?”

‘NO BEARING UPON IT PARK SCHEME’

Garg clarified that Thursday’s decision will have no bearing upon its upcoming general housing scheme in IT park which, according to sources, has similar rate slabs as offered in Sector 53 housing scheme.

He said that the scheme will be launched in few months as per current planning.