EO re-auctions 3 properties

On the directions of the Punjab and Haryana High Court,the UT Estate Office on Wednesday held the re-auction of two booths in Manimajra and a plot in Industrial Area which were the properties of the Super Bazar.

On the directions of the Punjab and Haryana High Court,the UT Estate Office on Wednesday held the re-auction of two booths in Manimajra and a plot in Industrial Area which were the properties of the Super Bazar.

These properties were auctioned in January but had to be re-auctioned after the bidders failed to make the payments in the stipulated time frame.

Two booths in Manimajra,which had earlier fetched Rs 55 lakh and Rs 52 lakh respectively,on Wednesday fetched Rs 34 lakh and 33.5 lakh respectively.

Similarly,the plot in Industrial Area which had fetched Rs 3.18 crore in January today fetched Rs 1.8 crore.

In January,the auction of seven Super Bazaar properties in the city had fetched the UT Estate Office a whopping Rs 10.56 crore. Among these were two booths each in the Sector 7 market and Modern Housing complex,Manimajra,besides two plots in Industrial Area phase I.

The auction was held following Punjab and Haryana High Court directions and was conducted through a committee chaired by retired High Court Judge,Justice A L Bahri. An earlier auction of the properties in May 2012 was cancelled as the amount earned was deemed grossly inadequate.

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