Ludhiana : The officials of Municipal Corporation, Ludhiana (MCL) generated good response to the auction of its residential plots on Monday. The officials became successful in generating Rs.1.55 crores from the auction of 4 residential plots. However, the auction of its shop-cum-offices has been postponed for some other day as there was no bidder for the same. The officials had organised auction of 17 shop-cum- offices located at Lodhi Club road and 4 residential plots in Jawaddi area. Two plots were having 125 square yards while another two were of 150 square yards.
The reserve price of these plots was fixed at Rs 25,000 per square yards. The officials became successful in auctioning plots at the reserve price of Rs 27,500 per square yards and 29, 000 per square yards which according to the officials is 10 to 16 percent above its reserve price. The officials informed that the successful bidders have to deposit 25 percent amount within 24 hours while rest of the amount would come within one year. The bidders would deposit Rs 37.84 lakh by Tuesday while rest would come in installments.
The Additional Commissioner Amrit Kaur Gill said that it was good response to the auction of residential plots and they could generate profit but the auction of SCOs would be organised again due to lesser participation. Meanwhile, the Municipal Commissioner Ghanshyam Thori said, “It’s encouraging that few plots have been sold. We will plan for SCO opposite key hotels reserve price and hold auction again after required approvals. All development for SCO has been done already by MCL.”
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