Sale of 11 liquor vends fetches UT Rs 33.61 crore
TNN | Apr 6, 2019, 11:18 IST
Representative imageCHANDIGARH: As part of the second round, the UT excise and taxation department on Friday auctioned 11 more liquor vends. So far, the department has auctioned 92 vends out of total 98 vends.
After opening of the e-financial bids on Friday, 11 liquor vends were sold out and the department received a revenue of Rs 33.61 crore against Rs 29.25 crore reserve price.
In total, the department has achieved an overwhelming trade and has collected a total revenue of Rs 377.24 crore from 92 liquor vends in the shape of licence fees against a reserve price of Rs 285.85 crore.
The department has registered an increase of approximately 32% over the reserve price and received Rs 5.85 crore as participation fee. An analysis of the successful bidders revealed that no single entity got allotment of more than 8 vends in the city.
For the first time, e-auctioning of liquor vends was conducted in Chandigarh. The new excise policy will come into effect from April 1.
According to the policy, prices of premium brands of whiskey are set to increase by 20 to 25% in Chandigarh. While the rates of beer and wine will remain unchanged, prices of beer at microbreweries will go down.
After opening of the e-financial bids on Friday, 11 liquor vends were sold out and the department received a revenue of Rs 33.61 crore against Rs 29.25 crore reserve price.
In total, the department has achieved an overwhelming trade and has collected a total revenue of Rs 377.24 crore from 92 liquor vends in the shape of licence fees against a reserve price of Rs 285.85 crore.
The department has registered an increase of approximately 32% over the reserve price and received Rs 5.85 crore as participation fee. An analysis of the successful bidders revealed that no single entity got allotment of more than 8 vends in the city.
For the first time, e-auctioning of liquor vends was conducted in Chandigarh. The new excise policy will come into effect from April 1.
According to the policy, prices of premium brands of whiskey are set to increase by 20 to 25% in Chandigarh. While the rates of beer and wine will remain unchanged, prices of beer at microbreweries will go down.
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