Hyundai Motor to shift its corporate office to Gurgaon

GURGAON: Despite 'Gurujam' and all round criticism of civic infrastructure, Gurgaon continue to attract big corporates for setting up offices. Joining the league of hundreds of MNCs, Hyundai Motor India Limited will shift its head office (sales & marketing) to millennium city from existing office in Jasola in Delhi.
For this Hyundai has purchased a commercial tower in sector 29 from Huda through e-auction at the price of Rs 205.88 crores.Huda has put its commercial tower with 7820.80 square metre spaces in sector 29, Gurgaon for auction with reserve price of Rs 205.78 crore. The company managed to get the property with highest bid of Rs 205.88 crore.
“Gurugram shall be having another feather in its cap by attracting the international brand which is a lead car manufacturer. This may also boost sentiments of property market,” said Huda administrator Yashpal Yadav adding that it will also help in re-establishing Gurgaon as favourite destination for big corporates.
Along with this Huda also managed to sell two school sites at around Rs 60 crores each and some commercial sites like shop-cum-office (SCOs) and booths. “In the recently concluded auction some residential plots in Sector 28 and 47 were sold at a good price,” said Yadav adding new payment policy total price of the property is to be paid within 120 days for residential properties and within 180 days for commercial properties.
He said recent months Huda has managed to sell properties at good price in parts of the state as well. “Even in Gurgaon we are receiving many queries about auction of properties,” said Yadav adding that it shows people are still interested in property of Huda and particularly in Gurgaon.
Excited with the response to its auction, Huda is going to auction another 30 commercial as well residential properties on Tuesday. “Now we will auction properties on every Tuesday. For this we have identified properties which can be auctioned and prepare a list of it," said Yadav.
Official believes if they continue to get good response to their auction programme, it may help in bringing out of its financial crisis and complete the pending development works.
In September Huda collected Rs 135 crores from auction of three plots for schools. Five acres of land reserved for senior secondary school in sector 47 and 56 were sold for Rs 60 crore each. The reserve price of land was Rs 34 crores but it was auctioned for Rs 60 crore. Another plot of 1.25 acre in sector 52, reserved for primary school was sold for Rs 15.5 crore.