Nagpur: Pocketing an Indian homeland deal is cakewalk for the city company Realty Kukreja because it is the only bidder for the property ai) build, spread in an area of ​​around 27,000 square feet.
Kukreja Infrastructure Bid RS33.01 Crore for Land.
Nagpur properties are placed in blocks along with real estate in other cities, including Mumbai.
Even when the other party has their presence in offers by paying a serious money deposit (EMD) for Nagpur properties, none other than Kukreja infrastructure that really bid.
The auction took place on September 23 and 24.
Shravan Kukreja from Kukreja infrastructure said, “There are three to four other parties who are present at the offer.
They have paid EMD.
However, we are the only thing to bid on,” he said.
When other people don’t bid at all, the company can take an agreement almost close to the reserve price.
Separate offers were invited to property spread in various parts of the country, including Mumbai.
EMD must be paid for properties that must be offered, he said.
Kankaj Roshan, a broker, confirmed that one of his clients had plans to buy property for his personal use, but then retreated even after entering to bid by paying EMD.
Other parties, who also pay EMD, don’t throw their hats on the ring.
The auction takes place at MSTC Ltd (formerly known as the E-Auction Metal Scrap site).
This is the second auction round for land in Nagpur.
The first round was held in July, when a number of people have asked, but no one really bid property.
Some companies learned to pay EMD during the first half, but did not bid.
After this, the reserve price is reduced by 10%, taking it to the current level.
The source said the property was considered a bit expensive, which prevented others from the offer.
Kukreja said it was an open auction and anyone could join during the 24-hour window by paying EMD.
In any case, this is dubbed the biggest realty agreement so far in terms of levels per square foot.
The company plans to come up with a housing-commercial project on land, Kukreja said.
Further plans will be drawn soon, he said.
Far, the company has just received a confirmation of the offer as the highest of MSTC, he added higher.