It may be behind schedule but the Delhi Development Authority (DDA) is finally offloading its cache of residential plots in some of the most prime locations in the city. Predictably, reserve prices of all plots have shot up in the new auction date.
The auction of plots — more than 250 in number — were to take place last year. However, the auction is now going to happen in August, with only 71 plots on the block. Sources in DDA confirmed that it would be the first in a series …

Irish Auction Info
The Irish Times Ltd, publisher of The Irish Times, has announced that it has bought MyHome.ie, the leading Irish online property portal. The deal values the business at up to €50 million, comprising an initial payment of €40 million and an additional payment of €10 million deferred over a five-year period.
The deferred payments are tied to targets set out in the business plan for MyHome.ie, said Maeve Donovan, the managing director of The Irish Times.
“MyHome will continue to operate on a standalone basis but availing of revenue and …

Is Vietnam’s explosive economic growth inflating a property bubble? Some Vietnam-based analysts think so judging by the number of new developments mushrooming across the country.
The 1997-98 financial crisis that hit other countries in the region such as Thailand, Indonesia and Malaysia had only a marginal impact on Vietnam, which had then only recently emerged from decades of economic isolation. Now, however, Vietnamese property developers are rapidly building new commercial and residential developments that some analysts contend have glutted the market. And there is no end in sight of new …

US Auction Info
Cass County’s forfeited properties will go on the auction block Aug. 26 with 50 parcels of property going to the highest bidder.
The property offered was forfeited for non-payment of property taxes from 2003 or earlier. These property owners lost all rights to their property if they did not pay taxes, interest and penalties by March 31, according to Cass County Treasurer Linda Irwin.
The property sale will be held at the Van Buren Intermediate School at 490 South Paw Paw Street, Lawrence. It will be in conjunction with property …

The government today sold a 24,111 square-foot site on Lantau Island for 30.5 mln hkd, much higher than what analysts had expected, in Hong Kong’s first land auction in the current fiscal year to March.
The 30.5 mln hkd final auction price represents a 111 pct premium to the minimum asking price of 14.47 mln for the site.
Analysts had expected the site to fetch about 17.4 mln hkd, just 20 pct higher than the minimum asking price.
The winning bidder was Goldbright Investments Ltd, a little known firm.
The last …

UK Auction Info
GOLDCREST has purchased a 0.48 acre site on Blackborough Road in Reigate at auction for £1.46 million.
The L-shaped site currently includes two detached buildings, which are used for a combination of office and residential use, as well as a yard area with a range of single storey garages and B1 commercial units.
Goldcrest intends to submit planning applications for the redevelopment of the site into a residential scheme.

Australian Auction Info
The Land Development Agency’s selective distribution of information to bidders short-listed for an auction of prime commercial land in Fyshwick is under fire after the release of more Freedom of Information correspondence.
Stepping up his attack over what he calls a sham auction, Canberra Airport owner Terry Snow says the agency withheld crucial information before the sale.
It had received a copy of Planning and Land Authority chief Neil Savery’s response to Austexx, the successful bidder, assuring them eight days before the auction the site was not restricted by the …

Irish Auction Info
A 79 acres island off Islandeady is expected to sell for in excess of €3m, writes Marian Harrison.
Illanteige Island, known as Bilberry Island, five miles from Castlebar and six from Westport, went on the market earlier this month causing huge interest.
The island, which can be accessed from the Castlebar to Westport Road at Islandeady, has panoramic views of the lake and surrounding countryside.
Auctioneer Brian Moran is adamant that the island is ideal for the development of a hotel or private houses.

UK Auction Info
A former Masonic Hall regarded as a fine temple to Freemasonry was expected to sell for more than £1 million at auction today.
The Grade II-listed Connaught Rooms, in Manningham Lane, Bradford, was to go under the hammer at Allsop’s residential auction in the Cumberland Hotel, London.
The landmark was being sold with outline planning permission for residential development and had a guide price of between £1 million and £1.3 million.

US Auction Info
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