In a first auction of prime commercial site in Gurugram, Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) fetched a whopping Rs1496 crore.
This is the single ever highest bid for any site in Haryana, said Raja Sekhar Vundru, Managing Director of the Corporation here on Tuesday.
Giving details, he said that the auction site measuring 11.76 acres is a prime chunk of land which is located exactly on the NH-8 at Udyog Vihar Phase V, Gurugram and had been earmarked for development of a commercial complex with Transit Oriented development (TOD) rights.
The site lies opposite the Gateway Tower and Cyber Hub; in proximity to the Ambience Mall and right next to the Trident and Oberoi Hotels. The reserve price of the site had been fixed at Rs686 crore, said he.
The HSIIDC had come out with a campaign for disposal of the site e-Auction in January 2018 and the last date for submission of the technical bids was February 19.
Four parties participated in the bidding for this site and Aadarshini Real Estate Developers Private limited emerged as the highest bidder with a quote of Rs1496 crore as compared to the bid of Rs1446 crore made by Beech Projects limited, said Vundru.
He informed that the successful auction assumes significance in the light of the generally held perception of a sluggish real estate market. It also vindicates the status of Gurugram as the most preferred investment destination in India near Delhi, he said.
