The prices fetched in today's auction were about 33 per cent more than the average reserve price fixed for the sold sites. The average price for the sold sites today was Rs 33,514.12 per square yard. Since the reserve price fixed for the sites now was 10 per cent higher than the reserve price fixed during the last auction, buyers said the prices fetched today were "good".This, many felt, was in spite of the fact that a general recession prevailed in the economy and the current financial year was about to end. Besides, today's auction could not evoke the response of many NRIs also.

Despite a good turnout for the auction before lunch, many of the sites put to auction could not be sold due to lack of adequate buyers, which property dealers attributed to the year-end consideration.Of the total sites put under the hammer, the Estate Office could find buyers for only 11 SCO sites in different sectors and had to withdraw the remaining 17 SCO sites due to the bad response. Such prime sites in Sector 34 and other Quiet Office sites in Sector 35 also could not be sold today.

While all the five godown sites in Sector 26 were sold, with one such fetching a maximum price of Rs 36.5 lakh against the reserve price of Rs 22.32 lakh, the highest price fetched for a single-bay SCO site in Sector 20 was Rs 78.5 lakh (reserve price Rs 49.41 lakh) and a two-bay SCO site in Sector 8 fetched Rs 1.41 crore, against its reserve price of Rs 1.32 crore.

Similarly, all the nine semi-industrial sites were sold, with the highest bid going for Rs 27.1 lakh against the reserve price of Rs 16.95 lakh, in Sector 32. The Estate Office had to withdraw as many as 30 booth sites, after 53 booths were taken up in the auction. The highest price fetched for a booth in Sector 35 was Rs 34.1 lakh, against the reserve price of Rs 33.21 lakh.

Meanwhile, after realising Rs 78.06 crore through various revenue receipts up to yesterday, the UT Estate Office has crossed its revenue target for the current financial year. The Office realises the revenue through sale of plots, recoveries on account of ground rent and other recoveries.

This, sources say, is in spite of the fact that the target was revised twice, from Rs 41 crore fixed at the start of the year to Rs 64 crore, which was again revised to Rs 74 crore.