Second bidder in Sadavarti land deposits 50% amount

Friday, September 22, 2017

The second highest bidder in Sadavarti lands auction held a couple of days ago has made online payment of 50% of the bid amount.

The bidder, Chadalavada Lakshman, offered to pay Rs.60.25 crore for the 83.11 acres of land belonging to Sadavarti. Kadapa based realty group –Satyanarayana Builders won the bid quoting Rs.60.30 crore following an intense round of open auction held in Chennai on Monday.

Eight bidders participated in which Satyanarayana, a realtor from Kadapa offered Rs.60.30 crore. Satyanarayana builders, howe3ver backed out and did not deposit 50% of the bid amount in 48 hours. As per the rules, second highest bidder Lakshman is eligible to own the lands. The bid price was nearly thrice the bid amount of Rs.22.44 core for which 83.11 acres of temple land at Thalambur village in Kancheepuram district of Tamil Nadu.

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