Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
The Chandigarh Housing Board (CHB) has launched a demand survey for its self-financing housing scheme in Sector 53, accepting applications exclusively on its website until March 3. The scheme includes 372 flats across three categories. Applicants must submit a deposit, which CHB will adjust in the earnest money deposit upon launch. The project, delayed since 2018 due to high costs and low demand, has undergone revisions to improve affordability. Officials recently presented the proposal to the Chief Secretary. CHB will proceed only if it receives sufficient interest and necessary approvals, aiming to offer long-awaited housing opportunities in Sector 53.
The Chandigarh Housing Board (CHB) has initiated a demand survey for its self-financing housing scheme in Sector 53, inviting applications exclusively through its official website. The survey began on February 22 and will conclude on March 3. This initiative aims to assess interest levels among prospective buyers before the board proceeds with the project. The proposed scheme tentatively includes three categories of flats: Sub-scheme A for High-Income Group (HIG) with 192 units, Sub-scheme B for Middle-Income Group (MIG) with 100 units, and Sub-scheme C for Economically Weaker Sections (EWS) with 80 units. Advertisement
CHB officials emphasised that the survey does not guarantee allotment but will determine the project's feasibility. The board will proceed with the scheme only if it receives sufficient interest from eligible applicants and secures the necessary approvals. Applicants must submit a deposit of INR 10,000 for Sub-schemes A and B, while those applying under Sub-scheme C must pay INR 5,000 as confirmation of interest. CHB will adjust this amount in the Earnest Money Deposit (EMD) upon the scheme's official launch. However, applicants who choose not to participate further after the scheme's introduction will forfeit their deposit.
CHB has also reserved the right to cancel the scheme at any stage without providing any justification, as stated in a public notice issued by the board. The Sector 53 housing scheme has faced multiple delays since its initial proposal in 2018. This marks the third attempt by CHB to implement the project on a 9-acre plot in Sector 53. Last year, just as the board was preparing to launch the scheme, the then UT Administrator, Banwarilal Purohit, rejected the proposal. Recently, the administration reconsidered its decision and instructed CHB to present the project details to the Chief Secretary, a meeting that took place last Friday.
The scheme failed to take off in 2018 due to a lack of demand, primarily because of the high cost of dwelling units. A demand survey conducted at the time revealed that out of the 492 planned flats, only 178 applications were received. The pricing structure discouraged potential buyers, with a one-bedroom flat costing INR 86 lakh, a two-bedroom unit priced at INR 1.28 crore, and a three-bedroom apartment set at INR 1.5 crore. In March 2020, CHB officially scrapped the scheme due to low demand. However, senior officials instructed the team to design a revised plan with more affordable pricing.
In 2022, as part of revival efforts, the board decided to eliminate its earlier plan to construct 100 one-room flats. By 2023, the board introduced a revised model, proposing 372 flats across three categories: 192 three-bedroom units, 100 two-bedroom units, and 80 two-bedroom EWS flats. CHB's latest demand survey serves as a crucial step in determining the viability of the revived scheme. If the response meets expectations, the board will move forward with final approvals and project execution, bringing long-awaited housing opportunities to Sector 53. This will address previous concerns about affordability and demand.
Advertisement
Facebook
Whatsapp
