Noida Sector 18 Kiosk bidding: Rs 3.25 lakh bid for kiosk with base price of Rs 27,000

Noida: The kiosks built in Sector 18 of Noida were auctioned online where the maximum bid for the rent of one of the kiosks went up to Rs 3.25 lakh per month, which surprised the Noida authorities.

The base price of the kiosk measuring 7.59 square metres was kept at Rs 27,000 per month.

According to the Authority officials, an e-auction was conducted for the rent of seven kiosks of the same size on January 10, through which the Authority will earn Rs 1.24 crore as revenue in a year.

Twenty people participated in the auction.

Noida's Sector 18 is considered to be a prime location. Invitations were sent out to rent the 18 kiosks built by the Authority here.

Out of the 18, 8 were put on rent in the first and second phases and the bidding of 7 was done on Tuesday.

A date will be decided to bid for the remaining 3 kiosks in the coming days, as per the rules.