The Noida Authority recently conducted a successful online auction for four duplex villas, with three of them sold at prices higher than the base price. The auction generated significant interest from potential buyers, resulting in a revenue of Rs 6.47 crore. The authority's efficient management of the auction process highlights its role in contributing to the growth and development of Noida.
The Noida Authority recently conducted an online auction for four duplex villas, and three of them were successfully sold at prices higher than the base price of Rs 1.79 crore. This e-auction took place on May 30, and the buyers who emerged successful will soon receive letters of allocation for their respective properties. One of the duplex villas in Sector 135, known as HD-223, was sold for Rs. 2.08 crore, surpassing the reserve price by Rs. 29.50 lakh. Another duplex in the same sector was auctioned for Rs. 1.92 crore, reflecting a price increase of Rs. 13 lakh, or 7.25% above the reserve price. Additionally, a flat in Sector 62 was sold for its reserve price of Rs. 66.44 lakh without any further bidding.
The Noida Authority, responsible for the development and management of the city of Noida, plays a crucial role in various aspects. Its primary responsibilities include planning, development, and maintenance of residential, commercial, and industrial areas within its jurisdiction. The authority focuses on creating a sustainable and well-structured urban environment, ensuring the provision of basic amenities such as water supply, drainage, and sanitation systems. Moreover, the Noida Authority is also involved in the allocation and sale of residential properties through auctions, as seen in this recent e-auction. By efficiently managing the auction process and generating revenue, the authority contributes to the growth and development of the city.
During the auction, officials received a total of 10 applications for the three available apartments, indicating a significant level of interest from potential buyers. The remaining homes will be put up for auction shortly, giving other interested parties the opportunity to acquire these properties. Overall, the auction generated a revenue of Rs 6.47 crore, highlighting the success of the process and the demand for residential properties in Noida.
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