Aamby Valley land may be sold in parts

PUNE: The official liquidator appointed by the Bombay high court is contemplating to sell the Aamby Valley land in parts, with no takers for the auction of the entire Sahara Group project, sources associated with the process said.

The Supreme Court had announced the auction in August 2017, with the official liquidator inviting bids at a reserve price of Rs 37,392 crore. The auction process began three days after the SC declined to entertain the Sahara Group’s plea to postpone the auction.

Seven months have passed since the auction notice was issued, but not a single bidder has expressed interest to buy the whole project. Sources said during a meeting last week between the liquidator and officials from district administration and Pune Metropolitan Region Development Authority, it was decided to auction the land in phases. The official liquidator is now planning to seek help of the district administration and the Pune Metropolitan Region Development Authority (PMRDA) to sell the land in parcels.


Sources added if the land was sold in parcels, they would have to come together and form a consortium as it comes under the state government’s hill station policy. “This could be an added issue, as there would have to be like-minded people buying the land,” a source said.

PMRDA commissioner Kiran Gitte told TOI that they would facilitate the liquidator for the auction process. “PMRDA will support the auction process as the hill station should develop further,” he said.