108 MHADA shops to go on e-auction this July | mumbai news | Hindustan Times
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108 MHADA shops to go on e-auction this July

This will help the MHADA to realise the actual value of this tenement

mumbai Updated: May 17, 2018 23:42 IST
Naresh R Kamath
Naresh R Kamath
Hindustan Times
Mhada,e-auction,shops Mhada
Mhada expects to earn more revenue though auction of shops(HT Photo)

After houses, the Maharashtra Housing and Area Developmental Authority (MHADA) is all set to provide shops to citizens. MHADA will conduct the a-auction of 108 shops in its complexes this July.

Interested parties will take part in the online auction and bid higher for the shops. This will result in an increase in the revenues as the previous tender system did not allow for competitive bidding.

The shops being put on auction are located at Pratiksha Nagar (Sion), Tunga (Powai), Turbe Mandala (Mankhurd), Gavanpada (Mulund), Vinoba Bhave Nagar (Kurla), Shastri Nagar and Siddharth Nagar (Goregaon), and at Charkop.

According to Sanjay Bhagwat, joint chief officer, MHADA (Mumbai board), e-auction is a current trend and helps to boost the revenue. “Unlike the tender process, where the bidders just quoted their prices in a sealed envelope and the highest one got the shop, here all can see the prices quoted by others on their computer screens and bid at a higher amount,” said Bhagwat.

“This will help the MHADA to realise the actual value of this tenement,” he added.

These shops which are located on the ground floors of the MHADA buildings, help the housing body to subsidise the flats for people.

In order to take part in the auction, parties will have to submit the application form with the Earnest Money Deposit (EMD) for each shop. They will be allotted a user ID and password. The auction will be held for seven days, during which the bidders can quote any price starting from the minimum amount stated by the MHADA. The highest bidder will be allotted the shop. The nodal agency will shortly appoint a leading bank to conduct the entire bidding process.

The last auction was held in 2010, during which 168 shops were sold.