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The following properties will be sold through an open auction on 4th March 2017 at 10:30 AM in the Conference Hall, RICBL, Head Office, Thimphu on “AS IS WHERE IS BASIS”. The interested bidders are requested to physically inspect the properties before the auction.

Sl. No.
Description of property

Contact details
1Tata Indica V2 (2009 model), BP-1-B5404.Phuentsholing Regional
2Honda CR-V  (2008 model ), BP-1-B-4781.Head Office, Thimphu.17998040
30.21 Acres land under T/No.2110 and P/No. BHU-2447.Bhur, Sarpang.17436826
40.18 Acres  land under Old T/No.1157,
New T/No.86 and P/No. GT1-1405.
Setikhari, Gelephu, Sarpang.17436826
50.39 Acres wet land under T/No.PT-576 and P/No.156/L.Sampheling, Chukha17598931
64.180 Acres dry land under T/No.352 and P/No.1117.Pachu, Phuentsholing,              Chukha.17625269
7Half portion of 4 storied building(4 units) on 7200sqft land under T/No.4506 and Plot No.KA1-068(UV2-II).Kawangjangsa, Thimphu.17998040

Term and conditions:

1. All interested bidders may register till 4th March 2017, 09:00 AM upon payment of non-refundable entry fee of Nu.300.

2. The individual bidders will have to deposit an earnest money of Nu.25,000/- (Ngultrum Twenty Five Thousand only) in the form of cash/cheque at cash counter, RICB, HO, Thimphu, during the time of registration.

3. The registered bidders will be provided a token during the time of registration. The bidders must produce the token during the time of auction.

4. The successful bidder shall deposit 25% of the bid value on the day of the auction in the form of cash/cheque and the balance of 75% within 10 days from the date of auction.

5. The unsuccessful bidder’s earnest money will be refunded immediately after the auction.

6. In the event, if the successful bidder fails to deposit 25% of the bid value, then the 2nd highest bidder shall be considered as the successful bidder and the earnest money of the 1st successful bidder shall be forfeited and so on and so forth.

7. In case the successful bidder fails to deposit 75% as stipulated, the 25% bid value adjusted earlier with earnest money deposit shall be forfeited.

8. The successful bidder will not be entitled to possession of the property(ies) until the total purchase price have been fully paid and adjusted.

9. The Auction Committee shall presume that the bidders have duly inspected the properties prior to the auction and shall not entertain any complaints thereafter.

10. The successful bidders shall bear all the fees/charges/taxes applicable while transferring the ownership of the property(ies).

11. The Auction Committee reserves the right to reject bids without assigning any reason thereof.

12. The RICB reserves the right to withdraw the property from the list of auction before it is actually auctioned.

13. The RICB will be introducing e-Auction (online) in consultation with RSEBL, whereby the interested bidders can register and bid

for the property through e-portal which can be accessed from

14.  Bids Submitted through e- Auction shall be accepted and its result shall be declared on the day of the Auction.

15. For e-Auction registration and for more information, kindly contact Legal Division, RICB, Thimphu at 17998040.

16. A copy of this Auction notice can be found on our office website