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.
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