Gurugram civic body auction six commercial properties for Rs 3.84 crore
16th January, 2018
Gurugram civic body auction six commercial properties for Rs 3.84 crore
The municipal corporation auctioned off six commercial properties, all located in prime locations, on Thursday after their owners failed to clear pending taxes.
The MCG mopped up total Rs 3.84 crore as against Rs 27.48 lakh the property owners collectively owed to the corporation.
The property that was sold for the highest price — Rs 1.1 crore — was a 3,000-sq ft shop in Star Mall, during the auction held at Gymkhana Club, which was attended by around 100 bidders.
The reserve price for the shop was Rs 16.4 lakh, the amount due to its owner.
MCG sources said the reserve price for each property was, in fact, equal to the taxes pending against it.
“Our sole purpose is to extract the pending property taxes. If property owners do no pay their taxes on time, we will continue with the auction drive,” said YS Gupta, additional municipal commissioner, Gurgaon.
A second shop in the same mall was sold off for Rs 71 lakh, as against the pending taxes of Rs 2.9lakh. A third property, located in DLF Shopping Mall on Arjan Marg, went under the hammer for Rs 55 lakh while Rs 1.02 lakh was tax dues.
These apart, two units were auctioned at Unitech Business Towers for Rs 46 lakh and Rs 44 lakh, respectively.
And the sixth one, which was auctioned for Rs 62 lakh, is in Bani Sqaure, Mayfield Garden. Sources said the properties were sold at prices below market rates because some of them would probably come with huge outstanding loans which would have to be cleared.
Source:- https://realty.economictimes.indiatimes.com/news/regulatory/gurugram-civic-body-auction-six-commercial-properties-for-rs-3-84-crore/62289868
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