Low Bidder Response Forced A Month-Long Wait In The E-Auction Of Gurugram Global City

The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has decided to extend the deadline for applications and auctions for three mixed-use sites in Global City by one month, according to officials aware with the development.

The new deadline for submitting applications is June 1, rather than May 1, and the projected date of the e-auction has been shifted from May 19 to June 19.

Global City by HSIIDC is set to open in Gurugram sectors 36B, 37A, and 37B. Global City will cover around 1,000 acres and will include residential zones, industrial clusters, and commercial zones.

It is intended to be a self-sufficient township with a concentration on current technology and future-oriented industries, low-carbon green infrastructure, ease of living, people skilling, and job creation.

According to a senior HSIIDC official, the extension of the tender deadline may cause the commencement of construction work on the ground to be delayed.

According to the official, the reaction was “not very encouraging, and potential bidders were also requesting an extension of the deadlines. As a result, HSIIDC decided to change the dates.

The last date to register for the three mixed-use land parcels for e-auction has now been extended to June 1 from May 1, and the date for e-auction has also been pushed to June 19 from May 19.

The three parcels for sale total 78.53 acres, 23.76 acres, and 40.23 acres. The reserve price for the 78.53-acre plot is Rs 4,957 crore, while the reserve price for the 23.76-acre plot is Rs 1,298 crore and the reserve price for the 40.23-acre plot is Rs 1,562 crore. These plots total around 142.52 acres.

Officials stated that only 20% of the total area in the two plots comprising 78.53 acres and 23.76 acres, and 30% in the third plot measuring 40.23 acres, can be developed for residential use. The remaining space on these three plots is set aside for non-residential usage.

Haryana Deputy Chief Minister Dushyant Chautala examined the progress of Global City in April 2023 and instructed officials to speed the project. He stated that Global City will be built to international standards and will include a university.

The Deputy Chief Minister instructed authorities to maintain quality throughout construction during the meeting, which was also attended by Additional Chief Secretary (Industries and Commerce Department) Anand Mohan Sharan.

Global City is being built on 1,000 acres of land in Gurugram, which has already been purchased. Five roundtable conferences were held in India and abroad to attract investments for the building of Global City, according to HSIIDC officials.

Sobha Group, Emmar Group, and Lulu Group have expressed interest in the Global City project, and several have visited the site. In October, Haryana Chief Minister Manohar Lal hosted a conference in Dubai attended by Emmar Group, Sobha Realty, Lulu Group, and Dubai Investments, among others.

The future Global City will feature a one-of-a-kind “utility tunnel” beneath the highways that will hold power lines, water pipes, and telephone network lines. With such a tunnel in place, there will be no need for future road digging for repairs.

Source- Moneycontrol

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