 "Gurugram liquor shop on Golf Course road auctioned for whopping Rs 50 crore")
Under Haryana’s new excise policy 2024-25, the government has auctioned a liquor vend on the Golf Course Road in Gurugram for a staggering amount of Rs 50.57 crore, the Hindustan Times reported.
The second highest bid was of Rs 48.28 crore, made for a liquor store at Bristol Chowk in Gurugram.
The amount fetched for the shop on the Golf Course is about 37 per cent more than more compared to the reserve price for this vend, which according to the government’s website, was priced at over Rs 31 crore.
Reserved price is understood as the lowest price at which the vend can be auctioned. The policy, which came into effect on Wednesday, will remain enforced till June 12, 2025.
According to the Haryana government, five of the top 10 bids were made for outlets which are close to the Delhi border. The authorities have so far auctioned 162 zones in the city, including 83 in the west, and 79 in the east. These have fetched the government a total of Rs 1,756 crore. The government has been releasing e-tenders on its official website to allot these zones.
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This amount is an increase of 9.4 per cent on the reserve price, the officials said.
The excise policy has also resulted in a 20 per cent hike in liquor prices in Gurugram. The authorities said that the timing of the auctioning of the stores is conducive as wedding season is on the horizon and is anticipated to boost the demand and footfall in the stores.
The next round of auction of some zones in Gurugram east and west is scheduled for June 14.