Noida Sector 18: Gutkha seller to pay Rs 3.25 lakh per month rent to Noida Authority for 7.59 sq m kiosk

Noida has emerged as the city of aspirations. People from all across north India come to this highly developed city in Uttar Pradesh to make a living. Be it software professionals or journalists, lakhs have made the city their home. Due to heavy demand, the rates of commercial properties have skyrocketed. Forget buying, even renting commercial properties is increasingly becoming tougher. Take Noida Sector 18 for instance. A cigarette, bidi and gutkha seller in Noida Sector 18 agreed to pay Noida Authority Rs 3.35 lakh per month as rent for a small kiosk.

Noida Sector 18, Kiosk were auctioned. A person who sells cigarettes, Gutkha and bidi agreed to pay Rs 3.25 lakh per month.

The size of the kiosk is just 7.59 square meters. For this, the Noida Authority had fixed Rs 27,000 per month as the base rent for the auction. 10 kiosks were to be auctioned. On Tuesday, seven kiosks were sold.

20 people bid on the kiosk. Sonu Kumar Jha, who sells cigarettes in a small shop in Noida Sector 18, won the bid by agreeing to pay over Rs 3 lakh per month.

Now he will have to pay advance rent for 14 months. He will have to pay Rs 45 lakh to the Noida Authority.

Two people named Sumit Awana and Siddhershwar Nath agreed to pay Rs 190000 per month. Vinod Kumar Prasad paid Rs 1,03,000 per month. Two people would pay around Rs 70,000. One person agreed to pay Rs 18,0000.

Normally, the Noida Authority earns Rs 1.25 crore per month through these kiosks. 10 kiosks were to be auctioned off. But the authority found only 7 buyers, reported Tricity News.