HSIIDC set to auction around 200 commercial plots in Panchkula Extension

                Panchkula: With limited commercial options at 
IT Park in Panchkula, investors are now moving 
to Panchkula Extension. Following a positive 
response for industrial and commercial plots 
in auctions at Barwala Industrial Estate, phase 
1, the Haryana State Industrial and 
Infrastructure Development Corporation 
(HSIIDC) is set to auction around 200 
commercial plots in 
phase 2. These plots will be available for IT, 
pharma, and general showroom purposes.
HSIIDC previously set a reserve price of Rs 
31,900 per square metre. However, it has been 
receiving an average of Rs 50,000-60,000 
during auctions at this location and hopes to 
reach 
Rs 70,000 this time. The land being offered 
ranges from 450 square meters to three acres.
"The place is only about 20 minutes from 
Panchkula. It has the advantage of its 
proximity to Punjab, Himachal, and 
Chandigarh. Thus, people from those areas are 
also excited about the 
opportunity. As this fiscal year ends on March 
31, we will start the process of auctioning 200 
plots at Barwala," Saurabh Singh, estate 
manager at HSIIDC Barwala, told TOI.
"Barwala, which is being developed as 
Panchkula Extension II as part of the master 
plan, has experienced a boom in recent times. 
You would not find such broad roads for this 
commercial project elsewhere. It is also more 
lucrative because, apart from our site, 15 other 
housing and commercial projects are coming 
up around that area, which will further boost 
the property market in the Panchkula 
extension," said the estate manager.

Previously, the plots here fetched significantly 
higher auction bids than the reserved prices. 
Officials attribute this to the placement of 
plots facing the highway. An official noted, 
"This is 
the best location on the highway favouring 
industrial units in Haryana."
Officials at Panchkula Estate told TOI that at 
the IT Park in Sector 22, Panchkula, only about 
four commercial plots are vacant. Thus, there 
is limited scope at this IT park now. A lot is 
happening in the Panchkula Extension, which 
is catching the attention of investors.



Source : Times of India