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A 44.44 square yard shop received a bid of Rs 3 lakh per square yard against the reserve price of Rs 1 lakh per square yard, thus being sold at Rs 1.35 crore. A K Sinha, chief administrator, GLADA, said: “No bid was made for less than Rs 2 lakh per square yard. While ten percent of the total amount was deposited on the spot, as many as 50 bidders participated in the auction.”
He added: “The market has ample parking area and is well-planned too. Recently, we also widened the road. In addition to this, the Dugri Bridge will also be widened. The bidders were interested in the auction due to the infrastructure development. The meltdown seems to have had no effect on the auction.”
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