KOCHI: How about buying 19 cents of land in Ernakulam district for just Rs 43,699 when the price has gone through the roof? Ikkaranadu village office will conduct an auction of the property on December 27, but real estate sharks have already set their sights on it, which is expected to fetch the Revenue Department a fair amount through open bidding.
The (8.09 acre) property, belonging to Kuttappan of Mannakkakuddi, Ikkaranadu, near Kolenchery, has been put on auction after he reportedly ignored the notices with regard to a Motor Accident Claims Tribunal (MACT) case that his property would be attached.
“We repeatedly dispatched notices to Kuttapan as per the proceedings, but he hasn’t contacted us,” said Kunnathunadu deputy tahsildar Krishnankutty.
He said the Earnest Money Deposit (EMD) for the auction will be finalised after calculating the interest for Rs 43,699 and the additional expenses incurred by the administration for the conduct of the tender.
“The amount which is expected to get after deducting the EMD and other charges will be given to the land owner,” said Krishnankutty, adding neither the owner nor his relatives will be allowed to participate in the auction.
Officers at the village said they could not contact him despite making several attempts.
Meanwhile, revenue officers said it would be hard for the owner to win back the property.
“Real estate group agents have already finalised the last call for the property. They might’ve decided the price as per the market rate and whom it should go to. They won’t allow any third party to pull it off. The group, before the auction, finalises the proposal for sharing the profit from the deal and act accordingly,” the officers said.