Government starts e-auctioning of NTC land in Mumbai news
29 July 2010

The government today kick-started e-auctioning of the land belonging to closed mills owned by the National Textile Corporation, much on the lines of the two e-auctions for the allocation of third generation telecom and broadband spectrum.

The government has lined up a 2.39-acre (9,664.44 sq mtr) property belonging to Podar Mill and an 8.37-acre (33,938.83 sq mtr) plot belonging to Bharat Textile Mills in the first-ever initiative by any government-owned company to sell land by the e-auction process.
Textile minister Dayanidhi Maran started the process of e-auctioning of Podar Mill (Process House) land facing Worli Sea Face at Mumbai, measuring 2.39 acres (9,664.44 sq mtrs). The government has fixed a reserve price of Rs250 crore for the land.

The auction, which started today, will close on the third day, ie, 31 July 2010, with auto extension as applicable after 5.00 PM on the closing date.

Eight bidders, including Indiabulls Infratech Limited, National Building Construction Corpn Ltd, Kohinoor Duet, Peninsula Mega-City Development Pvt Ltd, Celebration Developers Pvt Ltd, Runwal Developers Pvt Ltd, Lodha Ultimate Buildtech & Farms Pvt Ltd and DB View Infracon Pvt Ltd, all Mumbai-based, are in the fray for the Podar Mill property.

Bharat Textile Mills property, admeasuring 8.37 acres (33,938.83 sq mtrs) will be next on block. The government has fixed a reserve price of Rs750 crore for the property. This auction will be carried out on 4, 5 and 6 August 2010.

Seven parties, including D B View Infracon Pvt Ltd, Indiabulls Infraestate Ltd, Peninsula Realestate Management Pvt Ltd, Ahinsa Realtors Pvt Ltd (Tata), Perspective Realty Pvt Ltd (Oberoi), Videocon Realty & Infrastructure Ltd and Lodha Strucutre Developers Pvt Ltd, have submitted EMD for the auction.

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Government starts e-auctioning of NTC land in Mumbai