High drama at housing auction

TNN / Nov 24, 2005, 02:56 IST

Text Size

Small
Medium
Large

A 3-bedroom flat went for Rs 43.50 lakh, while 2 bidders backed out after making highest bids for 2 flats at auction.

PANCHKULA: It was an auction with a difference. It left many questions unanswered and brought mixed luck for Haryana Housing Board.
A three-bedroom flat went for Rs 43.50 lakh, setting a new benchmark, while two bidders backed out after making the highest bids for two flats at the auction held at the Sector 14 community centre on Wednesday.
The committee of Housing Board officials present at the auction also foiled an alleged attempt of pooling in for making a bid by withdrawing a residential plot measuring around 600 sq yards in Sector 6.
Two out of five bidders backing out and the authorities withdrawing the Sector 6 plot while bidding was on have raised suspicions about those who took part in the proceedings.

Real estate agents justified the price fetched by the three-bedroom flat as in keeping with the trend but avoided commenting on the withdrawal of the 600-yard plot in Sector 6.
"Bidding for the Sector 6 plot began at Rs 2.1 crore and did not go beyond Rs 2.11 crore. This raised suspicion among the eight-member committee constituted to conduct the auction.
Even as the price offered was Rs 60 lakh more than the reserved price, since there was some suspicion about those making the bid the committee decided to withdraw the plot from the auction," said Virender Dahiya, the Panchkula SDM who represented the district administration at the auction.

Enquiries revealed that as many as six properties, which included a one-kanal built-up house in Sector 6 and four flats on various levels in a Sector 14 four-storey flats complex, were put on sale by Housing Board authorities.
The reserved price for flats on the second floor was fixed at Rs 22 lakh each. The two went for Rs 46 lakh, offered by one Sanjay Kumar, and Rs 43.50 lakh, offered by one Pawan Kumar.
A reserved price of Rs 21 lakh was fixed for flats on the third floor. The highest bid received in this category was from a couple, Harnam Singh and Surjeet Kaur, who offered Rs 40 lakh.
The remaining two flats were auctioned for Rs 36.50 lakh and Rs 39 lakh respectively. Though the identity of the bidders who did not turn up after making bids could not be known, Housing Board authorities confirmed the incident.
"After the auction our team waited for them till evening. We have forfeited their token money. We cannot comment as to why they did not turn up to make payment," said Naresh Gupta, chief revenue officer (CRO) of Haryana Housing Board.

End of Article