Nursing Home Sites: UT Readjusts Prices, Relaunches Auction
The Chandigarh Union Territory Estate Office is preparing for a second attempt at auctioning two prime plots earmarked for nursing homes. The previous auction, held earlier this year, failed to attract bidders.
High reserve prices and the leasehold nature of the land were cited as major deterrents. The administration has since reviewed the terms.
This time, however, the reserve prices have been increased further. The revised auction will run through August, culminating in a three-day bidding process from August 26th to 28th.
The decision to re-auction the sites, despite the increased prices, reflects the UT administration’s commitment to expanding healthcare infrastructure in the city. The success of this auction will be crucial for attracting private investment in much-needed geriatric care facilities. The outcome will closely be watched by healthcare providers and the city’s growing elderly population.
