Fresh Auction for Commercial Plot in Verna Estate: A Litmus Test for Goa's Industrial Hub
GIDC to re-auction a commercial plot in Verna Industrial Estate, a move seen as an indicator of investment demand and real estate market recovery in Goa's industrial hub.
Real EstateCommercial PlotsVerna Industrial EstateGoa Industrial Development CorporationInvestment DemandReal EstateJun 23, 2024
The fresh auction aims to fetch a price closer to the market rate, with the commercial plots at Verna Industrial Estate ranging from 2,000 to 5,100 square meters. In March, GIDC successfully auctioned 16 industrial plots via e-auction, earning INR 156.6 crores. The corporation has now started issuing allotment letters for these plots. The re-auction will be closely watched as an indicator of investment demand and real estate market recovery in Goa's industrial hub. The sizable industrial and commercial developments in the area have made the plots highly sought after, and GIDC remains determined to achieve satisfactory prices for its inventory of available plots.
Frequently Asked Questions
Why is GIDC holding a fresh auction for a commercial plot in Verna Industrial Estate?
GIDC is holding a fresh auction because it was dissatisfied with the bids received during the previous e-auction.
What was the price bid for the hotel plot in the previous e-auction?
The bid for the hotel plot was INR 8,600 per square meter, which was deemed unreasonable by GIDC managing director Pravimal Abhishek.
What is the range of commercial plots available at Verna Industrial Estate?
The commercial plots at Verna Industrial Estate range from 2,000 to 5,100 square meters.
How much did GIDC earn from the e-auction of 16 industrial plots in March?
GIDC earned INR 156.6 crores from the e-auction of 16 industrial plots in March.
Why is the re-auction being seen as an indicator of investment demand and real estate market recovery in Goa's industrial hub?
The re-auction is being seen as an indicator of investment demand and real estate market recovery because it will test the appetite of investors and developers for commercial plots in the area.
Tags:
Related News Articles
Property Registration Scandal: 796 Documents Under Scrutiny for Violating Real Estate Laws
The registration department is investigating 796 property registration documents for non-compliance with real estate regulations, sparking concerns among developers and buyers.
Maharashtra Weather Alert: Heavy Rainfall Expected in Mumbai, Pune, and Other Districts
IMD issues yellow alert for Mumbai, red alert for Palghar and Pune; heavy to very heavy rainfall expected in the next 24 hours
Nagpur Townships Inspected by State-Appointed Panel, Issues Persist
A state-appointed panel inspected several townships in Nagpur, Maharashtra, but issues related to water supply, irrigation clearance, and inspection delays remain unresolved.
Indore Sees 12.8% Rise in Property Revenue During Festive October
The city of Indore recorded a significant 12.8% increase in property revenue during the festive season in October. According to Balkrishna More, the Deputy Inspector General of Registration for the Indore region, the surge in real estate activity can be a
Arvind Gurumurthy: A Renowned Legal Expert in M&A, Private Equity, and Corporate Law
Arvind Gurumurthy, a distinguished legal professional, has made significant contributions in the fields of M&A, private equity, and corporate law. With a successful seven-year tenure as Partner at Kochhar & Company, Arvind has extensive experience in hand
Arthur Laffer Buys $87,156 in NexPoint Diversified Real Estate Trust Stock: A Bullish Signal?
Arthur Laffer, the director of NexPoint Diversified Real Estate Trust (NXDT), has made a significant purchase of $87,156 in company stock. This move could signal his confidence in the company's future performance. Investors should consider this as a potential indicator of a bullish market play.