On strike day, plots get auctioned

November 1, 2006	(Be the first to rate this story!)  Loading ...
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Amid a traders’ strike over illegal shops, builders and developers bid for 15 commercial plots in the Indian capital, with the largest plot measuring 20 acres going for Rs.2.63 billion.

For the first time, the Delhi State Industrial and Investment Development Corp (DSIIDC) put to auction the 15 plots situated in northwest Delhi’s Bawana locality. The company said it was the largest industrial area in the country. The auction took place Monday.

Over 600 applications were received for the auction and over 400 bidders attended the proceedings, a company statement said.

Bids worth Rs.1.33 billion were received for properties ranging from 1,000 sq metres to 8,000 sq metres averaging Rs.60,000 per sq metres of price bid.

These commercial properties are the first set of properties put to auction in the Bawana complex.

Delhi’s Industry Minister Mangat Ram Singhal inaugurated the auction while DSIIDC managing director Jalaj Shrivastava presided over the proceedings.

Source: www.indiaenews.com

News Published Under:   Real Estate India, Delhi |

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