Auction of Koyambedu market open space for Pongal fails again

Chennai:
The auction of space behind flower market for Pongal festival failed
to evoke much response for the second time as Market management
Committee is planning to the hold the auction again on January 7 by
reducing the upset price from Rs 6 lakh to Rs 5.86 lakh.



A MMC official told Express that this is the first time the auction
failed to generate interest among the traders.

Initially, MMC had fixed the upset price at 7.16 lakh for the auction
on December 30. But there was only one bidder for Rs 6 lakh following
which the auction was held again on Monday.



This time the auction price was fixed at Rs 6 lakh. But this also
failed to evoke interest. “There were only four bidders,” a MMC source
said.



“Now we have taken the average of last three years and fixed the upset
price at Rs 5.86 lakh,” a MMC source said.



It is learnt that the parking of SETC buses near the market premises
to reduce the Pongal rush is forcing the traders rethink on bidding
for the open space of Koyambedu market.



“During the Ayudha Pooja, there was hardly any space for the trucks to
enter the market. Traders fear that if the same thing happens this
time during Pongal then loads of sugarcane would remain unsold,” a MMC
source said.



With Pongal only 10 days away, Marketing Management Committee is
hoping that the third auction won’t affect the upser price. The hope
for better revenue for market also rests on the alternate site likely
to be
provided for state transport corporation buses. They were usually
parked behind the flower market. “This year we are expecting it to be
parked behind K-10 police station in Koyambedu,” the source said