Badshah buys plot for Rs 3.80 cr in HSIIDC auction

Tribune News Service

Sanjay Bumbroo

Panchkula, March 23

The Haryana State Industrial Infrastructure Development Corporation (HSIIDC) sold five out of the 11 Barwala Industrial Estate showroom sites put up for e-auction here on Thursday.

One of the sites fetched Rs 4.16 crore, Rs 1.44 crore more than the reserve price of Rs 2.72 crore. According to sources, singer Badshah also bought a site for Rs 3.78 crore in the auction. The other three sites fetched Rs 4.14 crore, Rs 4.02 crore and Rs 3.78 crore, respectively.

The 50’x100’ showroom sites, each measuring 5,000 sq ft, are located at Alipur and face the national highway. There is no other commercial site in Panchkula district that faces the highway. These will have 200’x200’ parking space in the front.

The buyers can build hotels, restaurants, car showrooms, shopping malls, etc. on these plots. The registration for the e-auction started on February 25 and ended on March 17.

According to information, among the industrial areas being developed by the HSIIDC across the state, the Barwala estate has elicited keen interest from investors.

The HSIIDC had invited applications for auction of commercial properties in three cities. Of these, only large showroom sites in Barwala drew bids, with upcoming commercial areas of Manesar and Badi in Panipat drawing a blank.

Raghuveer Singh, Estate Manager, HSIIDC, says the area is being developed on the demand of industrialists. “SCOs were auctioned earlier and now big commercial sites facing the national highway have been sold. There is not a single HSIIDC site that sits on the highway.”

“We have received encouraging response in this auction. A famous singer has also bought a commercial plot in Barwala. Investors and industrialists are showing interest in investing here due to good connectivity and location,” he adds.

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