FCC

Goa's GIDC plans new auction for Verna commercial plots

2024-06-18

The Goa Industrial Development Corporation (GIDC) expressed dissatisfaction with the bids received for the commercial plots at Verna Industrial Estate, which had been put up for lease via an e-auction. Consequently, they announced their intention to conduct a fresh auction.

Additionally, the GIDC has initiated the process to issue allotment letters for the 16 industrial plots that were auctioned in March.

According to GIDC managing director Pravimal Abhishek, "We auctioned three commercial plots, one designated for a hotel and the other two for generic commercial use. The generic plots fetched good prices, with the highest bid reaching Rs 25,300 per sqm. However, the bid for the hotel plot was around Rs 8,600, which we deemed unreasonable. Therefore, we decided to cancel the auction and plan a re-auction."

The commercial plots at Verna Industrial Estate range from 2,000 sqm to 5,100 sqm.

The corporation's decision to conduct an e-auction for the industrial plots proved successful, resulting in revenue of Rs 1.56 billion. Despite announcing the e-auction before the elections, the issuance of allotment letters was delayed due to the model code of conduct.

"We refrained from approaching the Election Commission and chose to await the conclusion of the polls," Abhishek explained.