MCG will be conducting e-auction for properties for which taxes have not been paid despite the corporation issuing several notices in that regard. This announcement came after MCG’s offline property auction on Wednesday had to be called off as bidders colluded and quoted extremely low prices for properties. MCG commissioner Yashpal Yadav said that preparations for the e-auction process were under way and in the future, all auctions would be completely online. “We found out from our team that the bidders had come together to demand properties at lower prices. Hence, we called off the auction and from now on, we will only hold e-auctions,” he said.
Source : ET Realty