Chandigarh, June 30 -- The e-auction of residential freehold sites conducted by the UT estate office on Monday saw a tepid response, with only two out of 10 properties finding buyers.

According to official data, bids were received for just two sites. A 250-sq-yard plot in Sector 15-B was auctioned for Rs.8.33 crore against a reserve price of Rs.8.23 crore, reflecting a marginal increase of around 1.21%. Another 500-sq-yard site in Sector 21 fetched Rs.18.88 crore against a reserve price of Rs.16.52 crore, about 14.25% higher.

Together, the two properties generated Rs.27.21 crore-approximately Rs.2.45 crore above their combined reserve price. However, the remaining eight sites failed to attract any bidders and will now be put up for re-a...