PANJAB UNIVERSITY COMMERCIAL PLOTS AT PANIPAT FOR SALE

Public Auction will be conducted on (date of auction will be decided later on) at the venue of the sites for two commercial plots of Panjab University, Chandigarh, situated at Industrial Area, Panipat. Both the plots are in one row i.e. Plot No. E-68 measuring 2427 square yards and its constructed area 441 square yards and Plot No. E-69 measuring 1352 square yards.

Dimension of plots and terms & conditions can also be seen on the P.U. website (Click here to view) and any other related information can be enquired on Phone No. 0172-2534888 & 0172-2534859. This can also be enquired personally from the Legal & Estate Branch, Administrative block, Panjab University, Sector-14, Chandigarh, on any working day.

TERMS & CONDITIONS

1. The Auction Committee reserves the right to reject/withdraw any bid offer without assigning any reason.
   
   
2. The interested bidders will have to deposit an earnest money of Rs. 1,00,000/- by means of Demand Draft drawn on any scheduled bank situated at Chandigarh, in favour of Registrar, Panjab University, Chandigarh, to become eligible for participating in the auction.
   
   
3. The successful bidder will have to deposit 25% of the bid accepted by the Auction Committee by crossed cheque at the fall of hammer on the spot in favour of Registrar, Panjab University, Chandigarh. He will have to give a demand draft of equal amount within 3 days and the cheque of bid money will be returned back after the receipt of the Bank draft.
   
   
4. If the bidder/auction purchaser fails to pay the requisite amount of 25% of the auction-price at the fall of hammer, the amount money deposited by the bidder, shall be forfeited.
   
   
5. The remaining 75% of the consideration money shall be deposited by the intending purchaser in lump-sum within 30 days from the date of auction by means of demand draft in favour of Registrar, Panjab University, Chandigarh.
   
   
6. In case, if the intending purchaser fails to pay the remaining 75% amount within stipulated period of 30 days, his earnest (Rs. One lakh) and bid money i.e. 25% deposited amount of auction price will be forfeited and the intending purchaser shall have no claim for refund the same and damages to this effect.
   
   
7. Registration-deed of the plot will be executed and the physical possession will be handed over after receiving full payment from the intending buyer.
   
   
8. All the expenses incurred upon the execution of the Registration-deed of the plot, will be borne by the intending buyer.
   
   
9. No interest will be paid on the amount of earnest money and bid money deposited by the intending purchaser.
   
   
10. For the settlement of any legal dispute in respect of the said two plots, the jurisdiction will be Chandigarh only.
    
    
11. Official or reserve bid will be Rs. 10,000/- per square yard; Other terms & conditions will be announced at the time of auction.