HPMC to sell Kundali land for Rs 5.5 crore

In an effort to tide over its grim financial position, the state-run Horticultural Produce Marketing and Processing Corporation (HPMC) is all set to sell its land at the Delhi and Haryana border, located on the edge of the Delhi highway.

HPMC had recently invited tenders to sell this 13-bigha land at Kundali and many top private companies, including neighbouring state governments, had made a bid.

Sources in HPMC told Business Standard that a private company had bagged the offer and final approval would be granted by the state government soon. Only then would the company name be disclosed.

The source said when the deal was finally completed, the land would be sold for Rs 5.5 crore to this company.

Until some months ago, HPMC was negotiating a deal with two Himachal -based public sector companies "" the state marketing board and the state civil supplies corporation "" but they were not willing to pay more than Rs 2 crore for this prime land.

"In order to get more money for the land, we had to invite fresh tenders again," said CRB Lalit, managing director, HPMC.