Punjab Government on Sunday heralded a new era of transparency in allotment of residential plots located in focal points across the State by successfully executing the first-ever e-auction of residential plots by Punjab Small Industries and Export Corporation (PSIEC).
The auction witnessed a great response in Industrial Focal Points like Chanalon (Kurali), Naya Nangal, Ludhiana Pathankot, Patiala, and Bathinda. Investors have also evinced interest in other cities like Amritsar, Tanda and Goindwal Sahib.
The State Industries and Commerce Minister Sunder Sham Arora said that the PSIEC has proceeded for allotment of residential plots in different focal points after a span of 15 years to address the long-standing demand of industrialists to provide residential plots within the industrial focal points.
He added that the overwhelming response, especially in smaller cities, is indicative of the resurgence being witnessed in the State. Allotment of residential land through the mode of e-auction by PSIEC has brought even more transparency in allocation of key government resources.
Arora emphasized that e-auction shall bring in revenue maximization, efficiency, and has provided a level playing field and fair play in allotment of residential properties in the State vis-Ã -vis the previous system of making allotment on the fixed reserve price.
The state Additional Chief Secretary (Industries and Commerce) Vini Mahajan informed that PSIEC’s first e-auction of residential plots was conducted on PUDA’s portal from November 1 to November 29 and received applications from 320 bidders competing for 150 residential plots advertised across Focal Points located in Amritsar, Bathinda, Chanalon (Kurali), Goindwal Sahib, Malout, Naya Nangal, Patiala, Pathankot and Tanda.
At the end of the first auction, 70 plots shall be allotted to highest bidders, which will result in revenue close to Rs 1,200 lakhs for the State, she said.
Mahajan said that all successful bidders shall be informed through SMS or e-mail regarding acceptance of their bids and shall have to deposit balance 10 percent (plus two percent cancer cess) of the bid amount within three days, only after that the allotment letters will be issued.
“Down Payment of 30 percent of cost of plot shall be payable within 30 days of issuance of allotment letter, and balance 60 percent of bid amount shall be payable in six half-yearly equated installments along with applicable interest. Allottees may also avail a rebate of 10 percent on balance 60 percent of bid amount in case balance 60 percent is paid in lump-sum (without interest),” she said.
Mahajan added that PSIEC shall soon be venturing in e-auction of petrol pump sites in different parts of the state and modalities are being worked out for this purpose.