Huda puts 75 properties for sale; only 28 auctioned

Haryana Urban Development Authority in Panchkula received a “lukewarm response” as out of 75 properties that were to be sold,only 28 were auctioned.

Written by Express News Service | Panchkula | Published: March 22, 2012 3:18:37 am

The auctioning of commercial properties carried out by Haryana Urban Development Authority (Huda) in Panchkula received a “lukewarm response” as out of 75 properties that were to be sold,only 28 were auctioned. The properties auctioned included 17 booths,three each SCO’s and Double Storey Structure (DSS) with basement,and five spare parts shops in various sectors.

The properties that had an high reserve price attracted less bidders. The two school sites in Sector 21,whose reserve price was set by Huda as Rs 31.87 crore and Rs 7.78 crore,could not be auctioned as no bidder came forward to purchase the property.

An SCO site in Sector 16 was sold for over Rs 5 crore against its reserved price of Rs 2 crore,while in sector 17 the SCO’s were also over Rs 4 crore. The shopping centre site in sector 27 was sold for Rs 14.45 core.

The auction of none of the booths in various sectors exceeded Rs 1 crore limit. Most of the booths were sold in the range of Rs 70-90 lakh.

A DSS in Sector 28 with basement was sold for Rs 1.98 crore. Most of the bidders said that the reserve price for many commercial sites was kept very high by the Huda and that was the reason why very few persons showed interest in bidding.

“Huda should have had put less reserve price for auction,” said Anil Kumar,a bidder. A senior officer of the Huda,however,said that they had kept reserved prices of the commercial sites below the market price.

“We had kept the reserved price below the market rates,after proper evaluation . We also got a good response,” he said. The bidders deposited 10 per cent of the reserve price on the spot to Huda.

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