After poor e-auction response, Chandigarh mulls lowering reserve prices

Chandigarh UT administration is considering lowering reserve prices after a poor e-auction response on June 29, 2026, where only 2 of 10 residential freehold sites received bids.

A 250-sq-yard plot in Sector 15-B sold for ₹8.33 crore (1.21% above its ₹8.23 crore reserve), and a 500-sq-yard plot in Sector 21 sold for ₹18.88 crore (14.25% above its ₹16.52 crore reserve).

The remaining eight properties failed to attract any bidders and will be re-auctioned; officials attribute the muted response to reserve prices out of sync with market conditions.

A proposal to align reserve prices with the collector rate (government-notified benchmark for property valuation) is being examined to improve participation.