abhi

Haryana Urban Development Authority (HUDA) auctioned its ten sites fetching an amount of Rs 71.20 crore against the reserve price of Rs 41.34 crore.

One hotel site, five departmental store plots, three single storey booth without basement and a primary school site were auctioned by the Authority, HUDA administrator.

bikash

The booming real estate prices have left the Haryana Urban Development Authority (HUDA) richer by around Rs 740 crore since December 2006. The authority has been making huge profits by auctioning various sites monthly.

On Monday, a hotel site in Sector-14 went for Rs. 61 crore against the reserve price of Rs 36 crore. The site was auctioned to M.D.L.R. Hotels. Among all the auctioned sites in March this year, the lowest auction went for 45.50 lakh for a single storey booth measuring 22.68 square metre in Sector 21.

The authority auctioned 25 sites in December 2006, 9 in February 2007 and 10 site have been auctioned so far this month and all these have gone for more than the reserve price. Further, the authority plans to auction at least 50 other sites in the next six months. “A five star hotel site will be auctioned every month. Sites for multiplexes, bay hotels, departmental stores and shops-cum-offices will also be auctioned in the coming months. In addition to this, 125 budget hotel sites in Gurgaon, Faridabad and Kundli will be auctioned in the near future by HUDA.

Of all the sites auctioned since December 2006, a five-star hotel site in Sector 47 fetched maximum price. The site was auctioned for Rs 225.20 crore in February 2007 against the reserve price of Rs 163.90 crore. A 2700 square metre multiplex site in sector 55 / 56 was auctioned for Rs 73.4 crore against the reserve price of Rs 60.1 crore. Further, a multiplex cinema site in Sector 23-23/A went for Rs 72.5 crore against the reserve price of Rs 21.46 crore in December.

With more sites coming up for auctioning in the coming months, prices will only increase.