A largely unused stretch of land around Srinagar’s stalled Sangarmaal City Centre has turned into one of Jammu and Kashmir’s most valuable public property deals, with a consortium placing a staggering Rs 421.75 crore bid for the 45-kanal parcel, a TOI report stated. The auction, which began at 11am on August 25, continued deep into the night before the bidding finally closed at around 1.48am on August 26. The final offer was more than double the Rs 200 crore valuation officials had expected for the property.
Parmesh Construction Company Ltd, a consortium involving Pahalgam Green Hotels, a Jammu and Kashmir-based firm and Bhutani Infra Ltd, emerged as the successful bidder.
