Eros Group trumpets hotel site for Rs 255.20 cr at Gurgaon

February 6, 2007	(1 votes, average: 4 out of 5)  Loading ...
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The Millennium Plaza, a known subsidiary of renowned Eros Group, has fetched a five acre plot for a hotel site in Sector 47, Gurgaon for a whopping amount of Rs. 255.20 crore. The auction was organized by the Haryana Urban Development Authority (HUDA), Gurgaon on 4 Feb 2007, for the sale of 11 sites in different sectors including 5, 7-extension, 10A, 21, 55, 56, 47 and 9A.

The last auction arranged for the same did not turn out to be much successful as the price of the land was not coming up to the mark. This time round, the site has been notched for Rs 255.20 cr as compared to the last, where it was bided for only Rs 220 cr.

According to the revised reserve rates, the price for a hotel site in sector 47, Gurgaon was fixed at Rs. 163.90 crore. The hotel is likely to come up before the commonwealth games, in the next 2-3 years, says sources.

However, a multiplex site in the sectors 55 and 56 remained the main attraction of the auction. This highly lucrative site fetched Rs. 73.40 cr against the revised reserve price of Rs 6.01 cr, scoring a hike of 195.74% increase and was trumpet by Coral Realtors Pvt. Ltd.

Total bid money of Rs 341.72 crore was received against the total reserve price of Rs. 174.54 crore for nine sites thereby marking an increase of 195.78% over the reserve price.

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News Published Under:   Gurgaon, Real Estate Developers |

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