A One-Kanal residential site in Sector 11 (Number 181) fetched Rs 4.02 crore against its reserve price of Rs 1.48 crore and a three-kanal residential site was auctioned for Rs 8.18 crore.
Though only 34 of the total 100 residential sites could be auctioned today, generating Rs 74.87 crore for the UT Administration.
If todayâ€™s open auction was any indicator, real estate prices have gone up by three times since the last auction in 2004. In December, 2004, a one-kanal site had got the highest bid of Rs 1.61 crore and in 2003, a one-kanal plot was sold at Rs 1.02 crore.
Another one-kanal plot in Sector 38C (Number 2191P) was sold for Rs 3.82 crore against its reserve price of Rs 2.05 crore.
A one-kanal site IN Sector 44 (Number 1416) fetched Rs 2.15 crore against its reserve price of Rs 1.57 crore. The auction of a one-kanal site in Sector 36C got the Estate Office over Rs 2.82 crore.
The highest bidder was Manjula Aron, a resident of Panchkula, whose son lives in California and works with Google. â€œMy son has gifted this plot to me,â€ she told the media.
Another bidder, who bought a three-kanal residential site in Sector 15C (Number 2155) was M H Saney, a resident of Sector 34A. Saney is Executive Director, Green Planet Energy Private Limited.
Saney bought the prime property for a whopping Rs 8.18 crore. There were five two-kanal residential sites in Sector 33 (A and B) and 36B with a reserve price of Rs 3 crore each.
The sites were sold for Rs 5.4 crore to Rs 5.6 crore. The lone five-marla plot in Sector 44C, with a reserve price of Rs 40 lakh, fetched Rs 61.5 lakh.
A 10-marla site in Sector 15C was auctioned for Rs 1.41 crore, a similar one in 15D was sold for Rs 1.555 crore and the one in Sector 19B fetched Rs 1.23 crore.
While the majority of the sites could not be auctioned due to time constraints, some were withdrawn because people were not offering the desired price.