GIDC to Re-Auction Commercial Plots at Verna Industrial Estate After Disappointing Bids
GIDC plans to re-auction commercial plots at Verna Industrial Estate after receiving unfavorable bids, with the highest bid at Rs 25,300 per sqm.
GidcVerna Industrial EstateCommercial PlotsE AuctionReal EstateReal Estate NewsJun 17, 2024
In contrast, the generic commercial plots received good prices, with the highest bid at Rs 25,300 per sqm. The commercial plots at Verna Industrial Estate range from 2,000 sqm to 5,100 sqm. The GIDC managing director, Pravimal Abhishek, explained that the corporation cancelled the auction due to the unreasonable bid for the hotel plot and will now plan a re-auction.
On a separate note, the GIDC has also initiated the process to issue allotment letters for the 16 industrial plots auctioned in March. The e-auction of the industrial plots was successful, generating Rs 156.6 crore. Although the e-auction was announced before the elections, the GIDC delayed issuing allotment letters due to the model code of conduct. According to Abhishek, the corporation decided to wait for the polls to conclude and did not approach the Election Commission.
Frequently Asked Questions
Why did the GIDC cancel the auction?
The GIDC cancelled the auction due to receiving an unreasonable bid of Rs 8,600 per sqm for the hotel plot.
What were the prices fetched by the generic commercial plots?
The generic commercial plots received good prices, with the highest bid at Rs 25,300 per sqm.
What is the range of commercial plots at Verna Industrial Estate?
The commercial plots at Verna Industrial Estate range from 2,000 sqm to 5,100 sqm.
How much revenue was generated from the e-auction of industrial plots?
The e-auction of the industrial plots was successful, generating Rs 156.6 crore.
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