Misc Rajasthan Housing Board (RHB) Flats Selling (E-Auction) Online from 6 Sept 2019

Rajasthan Housing Board (RHB) Flats Selling (E-Auction) Online from 6 Sept 2019

Rajasthan Housing Board (RHB) is going to start online auction of surplus flats and houses from 6 September 2019. This is for the first time that RHB will conduct an e-auction and will provide seamless services to users through online mode. Around 7,075 constructed flats of different categories would be sold across the state on discount.

To benefit bidders, RHB will upload maps and pictures of houses on its official website. RHB will also fix the reserve prices of all houses that are going to be auctioned and will upload the details by 6 September.

All the successful bidders will have to deposit 10% of cost of house within 3 days. The remaining amount has to be deposited within a time frame of 60 days.

Rajasthan Housing Board (RHB) Flats Online Auction

For the first time, RHB has also adopted the process of reverse bidding method to auction houses. The mentioned reverse bidding method means that people have to place a bid at minimum discount rate to win auction and to buy house. For eg- if a person put up a bid for 40% discount and another at 30% discount, then RHB will sell flat to person who asks for lesser discount.

Residents will get one month time to submit their bid. This time RHB has divided discount rates in 2 categories i.e from 0% to 25% and 0% to 5%. The discount on flats will be assessed after examining the location, condition and various other factors. In the same housing scheme and location, RHB is going to offer discounts under separate brackets.

Upon receiving the approval from Rajasthan government, RHB will sell 7,075 constructed flats of different categories on discount. CM too had announced discount in the recent Budget Speech for FY 2019-20 in Assembly. RHB is now selling its houses at discounted rates after being failed in selling its houses at normal prices. Currently, RHB has more than 24,000 unsold flats in Jaipur, Jodhpur, Kota, Udaipur, Alwar and Bikaner circles.

As there is prolonged slump in real estate market, so many buyers are not not showing interest in RHB houses. Previously, RHB has made several attempts to sell its flats but all in vain as buyers were not interested in purchasing those properties.