Sahara's 'Aamby Valley' Put Up For Auction At Reserve Price Of Rs. 37,000 Crore

PIC: www.aambyvalley.com

However, market sources claim the actual prevalent market prices of these properties, including the constructions, amenities, world-class infrastructure and the goodwill, could be at least thrice the reserve price or in excess of Rs 100,000 crore. (Photo: PTI)

The total property going under the hammer is 8,493.163 acres, comprising an integrated hill-city township called Aamby Valley City Development, which was the first of its kind Megalopolis in India. As per the reserve price, this works out to around Rs 4,40,26,000 per acre. (Photo: PTI)

The first phase would include the verification of the KYC of prospective bidders. After they qualify, they would be required to submit bids with 15 per cent of Reserve Price as earnest money deposit or roughly Rs 6,000 crore, a Sahara Group official explained. (Photo: PTI)

Bombay High Court Official Liquidator Vinod Sharma issued notices in the media on Monday opening up the public auction of sale/lease on an as-is-where-is-whatever-there is of the Aamby Valley City, around 120 km from Mumbai. (Photo: PTI)

In a major setback to the Subrata Roy-owned Sahara Group, the Bombay High Court on Monday put up its prestigious Aamby Valley city properties in Maharashtra for public auction. (File: AFP Images)

The Official Liquidator of the High Court for the Aamby Valley City in the twin hill stations of Lonavala-Khandala has set a reserve price of Rs 37,392 crore as part of efforts to partially recover the Sahara Group's pending dues to various lenders and investors.