Poor response to HUDA auction

PANCHKULA, March 26: The auction of commercial sites by HUDA started an hour behind schedule at 12 p.m today. However, there were no bidders for the 30 sites in Sectors 16, 17, 21, and 5-Mansa Devi Complex.

The auction started with sites 4-P and 5-P in Sector 16 with reserve price fixed at Rs 1,30,2600. Site 2 in the same sector had a reserve price of Rs 1.16 cr while sites 188, 189 had a reserve price of Rs 2,905,000.

As no bidder came forward, the auction proceedings lasted only for 15 minutes. When contacted, Estate Officer N.K. Singla said that the poor response was expected as it is the financial year ending and people do not normally spend at this time. This also happens to be the second auction in the month. The last auction of commercial sites was held on the March 8.