Millennium Post

25 New Town residential plots put on e-auction receive huge response

Kolkata: The pavilion set up by the West Bengal Housing and Infrastructure Development Corporation (HIDCO) at the Realty Expo at Netaji Indoor Stadium received excellent response as queries poured in for the 25 residential plots in New Town that were put on e-auction. There were also a number of queries for Snehodiya, a habitat for senior citizens that will come up at New Town, just opposite to Swapna Bhor, the Seniors' Park.
"It is perhaps for the first time in Bengal that we have put up 25 residential plots on e-auction. At our stall we apprised people about the process of participating in the e-auction process and there was excellent response," a senior HIDCO official said.
The move was based on HIDCO's experience for 75 plots in the same area of New Town for the HIG category and the ratio was 1:30. For every plot, there were 29 dissatisfied persons. The e-auction allows an applicant who pays the EMD of Rs 1.5 lakh, 25 opportunities, if he/she so likes to apply, of outbidding other bidders. The last date of application for appearing in the e-auction is in the last week of this month.
The innovative approach about allotment of suites/rooms in Snehodiya also evoked huge interest among the visitors. "You pay an amount (say Rs 25 lakh) initially but get back 75 percent on vacating it, no matter how long you actually occupy. Thus, upon the demise of an occupant, 75 percent of the money is to be received back by the nominee who can then use it to buy her/his own property. Once vacant, the suite is to be reallotted to another senior applicant," the official explained.
Gitabitan Township at Santiniketan is offering plots with sanctioned building plans and the owner will also be given the option of getting the house made through a government agency at a pre-fixed cost, or he is free to engage his/her own agency and worksmen too.
"This is an age of personalisation and we think that products must follow the individual's preferences. So we toyed with this innovation at our pavilion and it was quite encouraging," Debashis Sen, chairman of HIDCO, said.
The Realty Expo oranised by Credai that begun on Friday ended on Sunday.
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