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Goa Industrial Development Corporation (GIDC) is set to conduct its sixth e-auction of industrial plots at Verna, with 20 plots available. Following a significant 80% rise in the average bid price during the previous auction, GIDC expects heightened interest, particularly from the pharmaceutical and logistics sectors. Notable pharmaceutical companies like Fertin and Centaur acquired large plots in earlier auctions, reinforcing investor confidence in Goa's industrial ecosystem despite the absence of tax incentives. Simplified allotment and auction norms have further boosted participation, with the fifth auction witnessing 81% of plots receiving multiple bids.
With the average bid price rising by 80% during the previous e-auction of industrial plots, the Goa Industrial Development Corporation (GIDC) anticipates robust participation in the sixth round of e-auctions scheduled for next week. GIDC officials foresee significant interest from the pharmaceutical and logistics sectors for the 20 industrial plots available at Verna. Advertisement
GIDC Managing Director Pravimal Abhishek noted that the largest plots in the last auction were acquired by pharmaceutical companies, Fertin and Centaur. He observed that Goa's pharmaceutical ecosystem remains attractive to companies looking to expand, with warehousing enterprises also showing interest in the upcoming auction.
Most pharmaceutical units in Goa were established during a period of tax holidays for manufacturing firms. The sustained interest from pharmaceutical companies, even in the absence of such incentives and under competitive auction conditions, reflects strong investor confidence in the state.
Abhishek highlighted the growing willingness of investors to pay premium prices for land in Goa, expressing GIDC's intent to capitalise on this momentum for another year.
During the five previous auction rounds, the average bid price escalated from INR 5,600 per sqm to INR 9,906 per sqm, with land premium collections increasing sixfold from INR 13.9 crore to INR 156.6 crore. The introduction of simplified allotment and auction norms played a key role, as multiple bids were recorded for 81% of the plots in the fifth round compared to mostly single bids in earlier rounds.
GIDC's strategic simplification of auction norms and the robust industrial ecosystem in Goa have significantly strengthened investor confidence. By maintaining this momentum, GIDC aims to solidify Goa's reputation as a competitive and lucrative destination for industrial investment, reflecting a strong commitment to fostering economic growth and development.
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