Delhi-based real estate developer Best City Infrastructure India Private Limited (BCIIPL), a Best Group company, clinched the deal of per square yard reserve price for which was Rs.62, 000 in 184 crore against the reserved price of Rs.135 crore of the property. This was happened first time in Bathinda, city of Punjab, that any developer acquires the land with such a biggest bid. The piece of land is situated in the heart of the city where a marvelous hotel-cum-multiplex is going to be developing very soon. "Our experts will be visiting the site and soon we will be submitting a plan to PUDA for approval," said BCIIPL Managing Director Harjit Singh Arora.
The Punjab Urban Planning and Development Authority (PUDA) auctioned 21,780 sq yd of land (about 4.5 acres) for Rs 183.82 crore on the Mall Road. "This is the maximum amount for which a single piece of land has been sold in Punjab," claimed Bathinda Development Authority chief administrator Kamal Kishore Yadav.
Whole auction lasted for six hours; Best Group set the ball rolling by offering a bid of Rs.62,500 the moment auction started. Four parties from all-over the country participated in the auction; the other three groups were Chennai-based VVT Hotels, Bathinda-based Himachal Fabrics and Delhi-based Paras Mani. Many twists and turns were witnessed for six-long hours with all the four groups placing their bids on a snail's pace. Media advisor to Punjab Chief Minister Harcharan Bains said, “Bathinda auction was the largest ever real estate auction in the history of the state.” He further added that Bathinda will soon emerge as one of Punjab and North India’s major growth centers, with work on the Oil Refinery underway and other major development projects on the anvil.
Types of construction allowed on the land for which change of land use is not allowed are multiplex, hotel and shopping mall. The successful bidder would be constructing a hotel-cum-multiplex on the site.
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Best Group is an ISO 9001:2000 company which is driven by the pioneering vision of Mr. Harjeet Singh Arora as its Managing Director. With almost 16 years of pioneering and successful track record of real estate promotion and development, both in residential and commercial segments, its greatest strength lies in its inherent ability to identify new growth opportunities. Innovative management practices and dynamic leadership has resulted in it growing from a small company to a trendsetter in the development of real estate infrastructure projects. Best group is a business conglomerate with more than 10 group companies, the primary interests of each being construction and real estate development. Best Group is mapping new heights and progressing in a positive way.
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