E-auction of 17 Huda properties on January 10

By | January 7, 2017

As many as 17 commercial sites in Gurugram will be up for grabs in an e-auction on January 10.

Huda is hoping to attract buyers to the auction in a bid to raise the much needed funds for the urban development body.

The commercial properties are located in sectors 28, 29, 30 and 52. The sites include clinics, nursing home, primary school, college and commercial complex. “We had received a good price for sites for schools in our previous auctions. We hope that this time too there will be ample demand,” said a senior Huda official.

Huda is expecting a better price for its commercial sites, particularly those allocated for schools. “Last time around, we had collected Rs 135 crore from auction of just three plots for school that took place in September,” he said, adding that five acres of land reserved for senior secondary schools in sectors 47 and 56 were sold for Rs 60 crore each. The reserve price of land was Rs 34 crore but was auctioned for Rs 60 crore. Another plot of 1.25 acres in Sector 52, reserved for primary school, was sold for Rs 15.5 crore.

Huda is also upbeat about the response of its last two auctions that were organised after demonetisation on November 15 and 22 wherein it managed to collect around Rs 50 crore by selling residential properties.

An official said that Huda has been accepting payment for selling properties through cheques or RTGS for several years. “We do not deal in cash, all our transactions are through cheques,” he said.

Source: Economic Times