MC residential site near Dairy Complex sold for Rs 10.57 cr
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The residential site of Ludhiana Municipal Corporation measuring 9,820 square yards near Dairy Complex, Hambran road, was finally sold for more than Rs 10.57 crore in the auction organised on Monday.
However, it was a case of another setback for the civic body as the auction got poor response with only three bidders present and the property fetching a mere hike of 7% from the reserved price of Rs 10,000 per square yard.
The auction for the same site was cancelled by the MC on November 23 this year after it got a mere hike of Rs 160 per square yard from the base price.
Kamlesh Bansal, spokesperson, MC and zonal commissioner zone A, said, "The site has been auctioned for Rs 10,700 per square yard and got a hike of Rs 700 from the base price. Three bidders were present during the auction."
In another attempt to fill its coffers, the MC will be auctioning nine shop-cum-offices (SCOs) near Hotel Keys on December 26. On November 26, 21 of these 30 SCOs were auctioned which fetched a maximum hike of 21% from the base price of Rs 1.50 lakh per SCO.
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