National Textiles Corporation on Wednesday received bids of Rs.90.31 crore for a 33,222 sq. m. plot in Ahmedabad, put on sale through e-auction.
The highest bid at close of the first day of the three-day auction was more than double the reserve price fixed for the land belonging to NTC's New Manekchowk Textile Mills.
The bids would remain open till December 31 for the plot which includes a bungalow on 400 sq. m., the company said in a statement here.
However, it did not receive any bids for 61,040 sq. m. of land belonging to the closed Mahalaxmi Textile Mills at Bhavnagar.
“Through e-auction bidders get multiple opportunities to secure a plot, unlike in the manual tender. Thus, it ensures the best price for the seller,” NTC Chairman and Managing Director K. Ramachandran Pillai said. NTC has about 1,300 acres in Mumbai, Bangalore, Indore, Karnataka and Coimbatore.
