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Eros Group gets hotel site for Rs 255.20 crores at sector 47 in Gurgaon

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Indian Realty major the Eros Group’s subsidiary the Millennium Plaza has obtained a hotel site in an auction at the sector 47 in Gurgaon and the auction was carried out by the Haryana Urban Development Authority on the 4th of February 2007. The source revealed at www.propertykhazana.com saying that the auction price of the property measuring 5 acres was obtained by the Eros Group for Rs. 255.20 Crores.
In fact, prior to this the auction was held for the same properties and nothing turned out successful said the HUDA officer to the www.propertykhazana.com and it was Rs. 220 Crores at the last bid and fortunately the HUDA has been paid more for the same property.
Further it is said that the hotel property in Sector 47 was fixed at Rs. 163.90 crores and after the revision in the property prices it has now fetched the whooping price of Rs. 255.20 crores and the realty sector is on high hopes about the upcoming Common Wealth Games event, which shall further give rise for hike in properties of the NCR.
In continuation, the Multiplex sites in sector 55 and 56 had the same demand and fetched about Rs. 73.40 Crores after the price hike and if the revealed sources to the www.propertytkhazana.com are to be believed then the properties at sector 55 and 56 areas were highly appreciated in the short period and the appreciation difference is calculated as 195%. In fact it was a great deal for the HUDA because the reserve price for the properties was approx Rs.175 crores and the bid money was Rs. 341.75 crores.
Source: NIMMA BENGALURU

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