Chandigarh, Sept. 15 -- The financial condition of the Chandigarh Housing Board (CHB) is steadily deteriorating due to the absence of new housing projects over the past nine years. The board's profits have dropped sharply, from Rs.23.09 crore in 2022-23 to just Rs.16.69 crore in 2024-25. The board is now largely reliant on interest earned from fixed deposits (FDRs) for its survival, as income from its primary revenue stream-e-auctions-has witnessed a sharp decline. During a presentation before UT administrator Gulab Chand Kataria on September 11 at the board's office in Sector 9, CHB officials revealed that the board's profits have been falling year after year. The surplus has dropped from Rs.23.09 crore in 2022-23 to Rs.20.02 crore in 2023-24, and further to Rs.16.69 crore in 2024-25. The steep decline is primarily attributed to the fall in income from e-auctions. Traditionally, CHB's largest earnings came from the sale of vacant flats, but in the last two years, the frequency of property auctions has drastically reduced. In 2022-23, the CHB sold 114 properties, generating Rs.76.22 crore. However, sales fell to just 35 properties in the following year, earning Rs.22.96 crore. In 2024-25, only 18 properties were auctioned, bringing in a mere Rs.9.29 crore-an 88% drop in e-auction revenue over the past three years. Despite this, the CHB found some relief through FDR interest and pending dues. Income from FDRs rose from Rs.25.99 crore in 2022-23 to Rs.35.68 crore in 2024-25. Meanwhile, collections from pending dues and transfer fees stood at Rs.25.15 crore, Rs.28.04 crore, and Rs.23.68 crore in the past three years, respectively. A senior CHB officer stated, "Our housing schemes for Sector 53, 54, and IT Park are in the pipeline and will be launched next month. We are hopeful that these projects will help improve the financial condition." With falling revenues, the board has also reduced its expenses. Expenditure on salaries, allowances, and leave encashment (including arrears and LIC policy payments) decreased from Rs.64.89 crore in 2022-23 to Rs.41.35 crore in 2023-24, before rising slightly to Rs.44.76 crore in 2024-25. Legal and other expenses dropped significantly from Rs.20.03 crore in 2022-23 to just Rs.7.15 crore in 2024-25. Direct costs associated with the sale of residential and commercial units have also become negligible. Notably, CHB has not launched any new housing projects in the past nine years. Its last scheme, introduced in 2016, offered 200 two-bedroom flats in Sector 51, priced at Rs.69 lakh each. Since then, most projects have either been stalled due to technical issues or are still awaiting administrative approvals. Experts warn that while CHB is currently surviving on FDR interest and pending dues, if e-auctions and other revenue sources do not stabilise, the board could become a financial burden for the UT administration in the coming years....