Estate office property auction: Booth fetches Rs 1.21 crore

Nine properties of Super Bazar,the city’s first chain of retail stores,were auctioned for 15.48 crore. The auction which was held on the directions of Punjab and Haryana High Court which directed an open auction of the properties through a committee chaired by retired high court Judge,Justice A L Bahri,witnessed a 64 square feet booth in Rehri Market Sector 19 fetching a whopping Rs 1.21 crores while another booth in the same market fetched Rs 96 lakh.

The highest amount of Rs 6.71 crore was fetched by an industrial plot measuring 1014 square yard plot. Another booth measuring 23 square yard in Sector 7 went under the hammer for the least amount of Rs 46 lakh while two adjoining booths fetched a slightly higher amount of Rs 51 lakh and 49 lakh.

Earlier,the auction which was held at Tagore Theatre,Sector 18,was marked by a mild protest when some of the bidders raised questions that if these properties were free of any financial liabilities in terms of pending bills such as electricity bills,water bills,other rents etc.

There was a heated debate when committee members supervising and conducting the auction said that the bidders should have enquired about this before participating in the auction and at this moment they did not have any such details. The committee chairman said the bidders were supposed to get it inquired beforehand from the concerned departments before participating in the auction.