“From the surplus land of Malwa United Mills in Indore, the NTC will put on the block 16.57 acres with a reserve price of Rs.60 crore from Oct 25 to 27. The tenders to shortlist the participants in the three-day auction will be opened on Oct 18,” NTC CMD K. Ramachandran Pillai said here.
Another 1,703 acres of Minerva Mills in Bangalore will be up for grabs from Nov 15 to 17 and the reserve price has been fixed at Rs.50 crore “Though we have fixed Rs.110 crore for the two lots, we expect double the amount of the reserve price, going by the trends in the last two auctions, especially after witnessing neck-to-neck fight between the contestants,” said Pillai.
Published 17 October 2010, 15:28 IST