Mysore, Feb. 27 (SH)- The Life Insurance Corporation (LIC) has paid Rs. 14cr. for a site measuring 1.80 acres at the Mysore Urban Development Authority (MUDA) online auction held on Friday at Nanjaraja Bahadur Choultry on Vinoba road here.
The Rs. 14 crore site measuring 74070.30 sq. mts (Site No.2), purchased by LIC, is located at Sharadadevi Nagar.
P.K. Sangam, Chief Engineer, LIC, who took part in the bidding process, outbid R&D Builders and Annapurneshwari Company.
Another corner site (No.C3) in Vijayanagar II stage, classified as 'commercial' measuring 1237.60 sq. mts. fetched MUDA Rs 2,41,50,000. The joint bidders for this site were M.C. Nanjappa and M.N. Cariappa of Kannan-gala Estate, Virajpet taluk, South Kodagu.
MUDA had fixed Rs.1.6 crore as the minimum sale price for this site.
Courtesy : Star Of Mysore