Final up to date:
Among the many winds up for public sale is a 30,000 sq. yard plot in Rukmani Vihar, Vrindavan, which was initially priced at Rs 60 lakh.
MVDA officers have been stunned to seek out that aside from the land price Rs 60 lakh which was bid at Rs 30 crore, one other plot of 288 sq m was offered for Rs 19-11 lakh.
Throughout the on-line public sale of residential plots at Mathura Vrindavan Growth Authority (MVDA), bids have been surprisingly effectively above the reserve value. The public sale began on Thursday with eight heaps up for bid. Amongst them, a 300,000 sq. yard plot of land in Rukmani Vihar, Vrindavan, was initially priced at Rs 60 lakh. Nevertheless, throughout the digital public sale (e-auction), the bidding surged and the plot fetched a staggering Rs 30 crore. The unprecedented consequence clearly stunned MVDA officers, prompting them to research the underlying causes behind such intense bidding.
After reviewing the public sale outcomes, MVDA officers have been stunned to seek out that aside from the land price Rs 60 lakh which was bid at a excessive value of Rs 30 crore, one other plot of 288 sq. meters was offered for Rs 19 crore (Rs 11 lakh). Division insiders mentioned these exorbitant bids have been strategically designed to disrupt the public sale course of and have been designed to discourage real consumers from buying the plots by pushing costs past affordable ranges.
The bidding frenzy additionally jeopardized members’ deposits. When members apply for an public sale, they’re required to pay a deposit. Failure to deposit the bid quantity after profitable a bid will end in forfeiture of that deposit.
Particular Officer Prasun Dwivedi harassed that bidders who provided Rs 30 crore for a plot price Rs 60 lakh had jeopardized their safety deposits. He warned that if these bidders failed to satisfy their monetary obligations, their assured quantities can be forfeited. Auctions for the remaining heaps are scheduled to proceed on Friday and July 29 and 30.
The incident highlights the challenges confronted by authorities in guaranteeing clear and truthful property auctions amid rising curiosity in actual property funding throughout India.
