Chandigarh Housing Board had launched Self-Financing Housing Scheme 2010 of two-bedroom flats in Sector 51-A, Chandigarh. The last date to apply was January 24, 2011. The draw of lots for the CHB Housing Scheme 2010 was held on March 23, 2011.
Chandigarh Housing Board’s Residential Flats Scheme in Sector 51-A, Chandigarh
Chandigarh (India), October 28, 2019
The Chandigarh Housing Board (CHB) had launched Self-Financing Housing Scheme 2010 of 160 two-bedroom freehold flats in Sector 51-A, Chandigarh on December 13, 2010. The last date for submission of application forms for the CHB Self-Financing Housing Scheme 2010 was January 24, 2011. The draw of lots for the CHB Self-Financing Housing Scheme 2010 was held in Chandigarh on March 23, 2011.
The Scheme Timeline
CHB Self-Financing Housing Scheme 2010 Opened On: December 13, 2010
CHB Self-Financing Housing Scheme 2010 Closed On: January 24, 2011
CHB Self-Financing Housing Scheme 2010 Draw of Lots Held On: March 23, 2011
Details of the Freehold Residential Flats and Initial Deposit (Earnest Money) Required
| Scheme | Floor | Total Flats | Accommodation | Earnest Money Deposit | Tentative Sale Price Per Flat |
| Scheme A | Ground Floor | 36 | 2 BHK, 2 Toilets, Store, Front Court | Rs. 500,000 | Rs. 5,065,000 |
| Scheme A | First Floor | 36 | 2 BHK, 2 Toilets, Store, Balcony | Rs. 500,000 | Rs. 4,739,000 |
| Scheme A | Second Floor | 36 | 2 BHK, 2 Toilets, Store, Balcony | Rs. 500,000 | Rs. 4,739,000 |
| Scheme A | Third Floor | 36 | 2 BHK, 2 Toilets, Store, Balcony | Rs. 500,000 | Rs. 4,739,000 |
| Scheme B | Ground Floor | 4 | 2 BHK, 2 Toilets, Store, Front Court | Rs. 1,000,000 | Rs. 5,065,000 |
| Scheme B | First Floor | 4 | 2 BHK, 2 Toilets, Store, Balcony | Rs. 1,000,000 | Rs. 5,065,000 |
| Scheme B | Second Floor | 4 | 2 BHK, 2 Toilets, Store, Balcony | Rs. 1,000,000 | Rs. 5,065,000 |
| Scheme B | Third Floor | 4 | 2 BHK, 2 Toilets, Store, Balcony | Rs. 1,000,000 | Rs. 5,065,000 |
The Bank Authorized for Sale and Collection of Application Forms
The Brochure along with Application Form of CHB’s Self-Financing Housing Scheme 2010 were available in the following seven authorized branches of the Axis bank Limited in Chandigarh, Haryana, and Punjab:
1. Axis bank Limited, SCO 343-344, Sector-35B, Chandigarh
2. Axis bank Limited, SCO 41-42, Sector-8C, Chandigarh
3. Axis bank Limited, SCO 916, Pocket No. 6, Manimajra, Chandigarh
4. Axis bank Limited, Jeevan Prakash Building, Sector-17B, Chandigarh
5. Axis bank Limited, SCO 10, Opposite Bus Stand, Panchkula, Haryana
6. Axis bank Limited, SCO 390, Sector-20, Urban Estate, Panchkula, Haryana
7. Axis bank Limited, SCO 113-114, Phase VII, Mohali, Punjab
Price of the brochure and application form for the CHB Self-Financing Housing Scheme 2010 was Rs. 1,000. In this scheme, an applicant was allowed to fill up any number of forms. However, in case the applicant is successful more than once, only one flat would be allotted to him or her.
CHB Self-Financing Housing Scheme 2010 – SWOT Analysis
Chandigarh being the state capital of Haryana and Punjab has a very good potential for the future infrastructure development and price appreciation of the real estate properties.
CHB Self-Financing Housing Scheme 2010 had on the offer 160 two-bedroom freehold residential flats in Sector 51-A of Chandigarh Union Territory. These freehold residential flats are priced at Rs. 50.65 lakh for the ground floor flat and Rs. 47.39 lakh each for the first floor, second floor, and third floor flat.
The Chandigarh Housing Board has also gone in for a new system of assured allotment of 16 two-bedroom freehold flats in this scheme. Sealed bids were taken for these flats against a reserve price of Rs. 50.65 lakh. The Chandigarh Housing Board calculated the average of the top 16 bids. Based on this, the top 16 bidders were given the residential flats at the average calculated price.
The Chandigarh Housing Board had floated its previous residential housing scheme in 2008, in which a two-bedroom residential flat was priced at Rs 29.14 lakh.
The flats being offered in Chandigarh Housing Board’s freehold residential scheme in Sector 51-A will have specifications like marble flooring, modular kitchen, solar water heating system, rainwater harvesting system, and lots of green areas in the vicinity.
Chandigarh Housing Board is aiming to complete the entire allotment process and construction work in a record period to make it the fastest scheme to implemented by CHB so far.
The layout plan of the project is already approved. CHB will not need to wait for environment clearance from the Government of India before starting the construction work. In January 2011, the tenders for construction of the flats was advertised and the construction work was allotted to the successful builder in March 2011. The Chandigarh Housing Board intends to hand over the possession of flats to the successful allottees by June 2012.
Earlier, the Chandigarh Housing Board had contemplated making the Non-Chandigarh Residents (NCR) and Non-Resident Indians (NRIs) eligible to applying in the CHB Self-Financing Housing Scheme 2010. As this would have necessitated for an amendment in the Chandigarh Housing Board’s rules, therefore a meeting of the Board of Directors decided to limit the eligibility of applying in this flats scheme to the residents of Chandigarh city only.
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