PSIEC conducts first e-auction of residential plots, earns ₹12 cr

In the state’s first-ever e-auction of residential plots located in industrial focal points across Punjab, the Punjab Small Industries and Export Corporation (PSIEC)

In the state’s first-ever e-auction of residential plots located in industrial focal points across Punjab, the Punjab Small Industries and Export Corporation (PSIEC) auctioned 150 plots in Chanalon (Kurali), Naya Nangal, Ludhiana, Pathankot, Patiala, and Bathinda.

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Investors have also shown interest in residential plots in Amritsar, Tanda and Goindwal Sahib, said additional chief secretary of industries and commerce Vini Mahajan. She said the e-auction, which was conducted on PUDA’s portal from November 1 to 29, saw applications from 320 bidders competing for 150 plots, generating revenue of ₹12 crore.

Industries and commerce minister Sunder Sham Arora said the PSIEC has proceeded for allotment of residential plots in different focal points after 15 years to address the long-standing demand of industrialists to provide residential plots within Industrial focal points.

Successful bidders will be informed about acceptance of their bids and will have to deposit balance 10% (plus 2% cancer cess) of the bid amount within three days. Down Payment of 30% of cost of plot will be payable within 30 days of issuance of allotment letter. The balance 60% of bid amount will be payable in six half-yearly equated instalments along with applicable interest. Allottees may also avail a rebate of 10% on balance 60% of bid amount in case balance 60% is paid in lump sum (without interest).

Mahajan also said that PSIEC will be venturing in the e-auction of petrol pump sites across the state.