Aamby Valley goes in for Auction at reserve price of Rs 37,392 crores and more. Read here!

In the wake of a Supreme Court order, the auction process for Aamby Valley kicked off with a reserve price of Rs 37,392 crores.

The sprawling and opulent resort town were put on auction on Monday, with the official liquidator inviting bids at a price of Rs 37,392 crores.

Ultra-exclusive chartered city – Liquidator

The liquidator, while describing the whereabouts of Aamby Valley titled it as an “Ultra-exclusive chartered city”. “The property includes timber chalets, modern villas, golf course, hospital, school, and airport, among other amenities,” the liquidator said.

The official liquidator of the Bombay High Court published an auction notice today inviting prospective bidders for the integrated hill city township spread over 6,761.6 acres near Lonavala in Pune district, as also two land parcels measuring over 1,700 acres.

Auction Procession for Aamby Valley

However, last week, the Supreme Court said that the auction process can commence on August 14. However, the court statement added, “If the Sahara group deposits Rs 1500 crores in the Sebi-Sahara refund account by September 7, then an appropriate order shall be issued.

In order to place bids for the property, the liquidator said that the bidder must submit their KYC forms. If qualified, the bidder will have to pay 15% of the reserve price as earnest money,” the liquidator added.

The properties which are on auction include an integrated hill city township spread over 6,761.642 acres in the great Sahayadri mountain range, 1,409.865 acres of land surrounding Aamby Valley City Development and land measuring 321.656 acres within the Satara district.

What is Aamby Valley?

This is how the liquidator described the Sahara’s Aamby Valley: “The ultra- exclusive chartered city has residential options ranging from the Timber Chalets to fabulously modern and customised villas in distinct architectural styles and several amenities such as golf course, airport, hospital, adventure sports, retail, entertainment, international school and hospitality”.

Sources confirm that if Rs 1500 crores are paid By September 7, the auction process will be withdrawn.

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