Noida Tea & Gutka seller makes highest bid of Rs 3.25 lakh a month rent for kiosk in upscale Sector-18 market

The auction for the kiosk K-3 was conducted by Noida Authority along with six other kiosks earlier this month under its “allotment of commercial kiosk” in the Sector-18 market. The base rent of these kiosks was kept at Rs 27,000 per month. The kiosk K-3, for which Jha has bid, is located near triangle park in front of the fast food restaurant chain McDonald’s in the Sector-18 market. Jha, who sells gutka and tea along with his other family members, was among the 20 contenders who participated in the auction process.

Officials said that Jha will have to deposit 14 months’ rent in advance, which roughly amounts to Rs 45 lakh, to the Noida Authority to get possession of the kiosk.  Sonu and his family are now the topic of discussion among people as to how a gutka seller was able to make a bid of Rs 3.25 lakh per month for the kiosk. “People don’t believe it but it’s true. I am happy that I was successful in the bid.

I know it is a big amount but while participating in the bid I was only thinking about the business I will get from this kiosk,” Sonu told Moneycontrol. He, however, did not reveal how he will manage to deposit an advance of Rs 45 lakh to the Noida Authority. “I am yet to get the papers and keys of the kiosk so I don’t want to comment on how I will manage payment of this amount. I will speak on this point only after getting possession of the property,” he said.