PANCHKULA: The first e-auction of residential sites in Panchkula by Haryana Urban Development Authority (HUDA) turned out to be a damp squib after only 13 residential sites were sold out of a total 43 sites that were selected for the e-auction, held here on Thursday. The development authority managed to collect a revenue of Rs 25 crore.
It was for the first time, that HUDA had held an e-auction for the residential sites in Haryana, as earlier the process was carried out through manual bidding.
“It was good response, considering that it was the first e-auction for residential sites. There is a certain level of security and assurance which comes if people purchase HUDA plots,” said estate officer Manish Lohan.
He, however, added that lesser number of registrations could be due to the change in payment schedules that required payment be made within 4 months.
Credits ET Realty