E-auctions of plots to be held only on Tuesdays in Gurgaon with 100 plots in a day

E-auctions of plots to be held only on Tuesdays in Gurgaon with 100 plots in a day
08/09/2017 , by , in News/Views

Huda is going to restart e-auction of plots in residential, commercial and institutional categories across Gurgaon from October 8 to raise funds to meet its liabilities. And to speed up the process, the urban development authority is planning to put its prime properties under the hammer every Tuesday from mid-October. Earlier, the Huda was planning to start e-auctions in September. But Huda chief administrator J Ganesan put the plan on hold following complaints of irregularities.

“We held a meeting with the chief administrator in this regard. He has approved a fresh scheduled for e-auctions,” said Huda administrator Yashpal Yadav. Yadav said earlier at times, they used to have multiple dates for auctions in a week, but now Huda had fixed a particular day (Tuesday) of the week for auctions. Also, earlier they had the provisions to include only 30 plots for auctions in a single day, but now around 100 properties can be put under the hammer in one day. “For this, necessary changes have been made in the e-auction software,” said Yadav.

The chief administrator has also issued some new guidelines, directing officials to inspect properties before listing them for auction. “List properties, which can attract maximum buyers, to ensure that most of the plots are sold out,” Ganesan said.

Between April 2006 and July 2017, Huda raised around Rs 924.68 crore from auction of its properties, against the reserved price of Rs 737.97 crore. “We received Rs 200 crore, above the reserved price of Huda properties,” said Yadav. Most of the money came from auction of residential properties, which fetched around Rs 522 crore. Commercial properties yielded Rs 246 crore while auction of institutional properties generated around Rs 155 crore.

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