Chandigarh, Aug. 24 -- The cash-strapped Chandigarh municipal corporation (MC) is all set to auction its prime land in Manimajra for residential projects as the UT administration has given it a go-ahead, but with a rider that 15% of flats will be reserved for the economically weaker sections (EWS).

The civic body has identified a 6.9-acre land parcel in the Shivalik Enclave area of Manimajra, where five plots in Pocket Number 6 will be put up for auction with a cumulative reserve price of over Rs.794 crore. The project is expected to attract big real estate players, as the land can be allotted either to a single developer or a consortium, but with no scope for fragmentation or amalgamation of plots. All construction will need to conform ...