Record bid for commercial space | gurgaon | Hindustan Times
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Record bid for commercial space

gurgaon Updated: Jan 14, 2013 01:16 IST
Dhananjay Jha

In the highest ever auction of a commercial space in the city, a single-storey shop measuring 22.68 square metre at Sector 23A has fetched almost R1 crore for the Haryana Urban Development Authority (Huda).

As many as 16 commercial booths (shops) in Huda sectors such as 4, 5, 9, 9-A, 23 came under the hammer on Friday, making the authority richer by about R13 crore. About 175 buyers participated in the auction.

To be precise, the Sector 23A commercial booth in west Gurgaon was sold for R99.70 lakh. Another shop of similar size fetched R99.60 lakh.

A senior Huda official said that all the booths were sold 30 to 40 per cent higher than the reserved price fixed by the government. There are several booths, which are lying vacant in various sectors.

“The auction for the remaining booths will take place on January 19,” said the official, adding that the price of commercial space in Gurgaon has become double in one year.

In terms of per square metre, the rate stands close to R4.5-5 lakh, which has come as shock for Delhi and Noida authorities too. Neemo Dhar, commissioner PR, Delhi Development Authority (DDA), said, “I guess the rate is the highest in the NCR.”

A senior official at the Noida authority said, “R4.50 to 5 lakh per square metre is much costlier than the Noida rate. We sold our commercial plots recently at R2.5 to 3.5 lakh per square metre in plush sectors.”