Cash-strapped Huda to auction residential plots

By | October 31, 2016

Cash-strapped Huda will, for the first time, abandon its policy of lucky draws to auction residential plots in the city and allot them to the highest bidder. The move is aimed at generating the maximum revenue possible for the authority that is reeling under a financial crisis and does not even have enough funds to even pay its employees.
A total of 48 residential plots ranging from 50.58 square metres to 505.85 square metres in different sectors of Gurgaon will be up for grabs during the e-auction scheduled on November 8 and 15.
The authority has fixed a reserve price for each plot. Those interested will have to register on the official website of Huda and deposit 2% of the reserve price to participate in the auction.

Source: Time of India