Goa IDC Quitol: 16-plot auction cancelled, fees and EMD to be refunded

NIC’s 26 October record for Auction ID 2026_GIDC_174 moved submission on 5 November from 09:00 to 14:59 IST and retained the 15:00–15:30 IST auction. Goa IDC’s signed notice cancels the whole round. The NIC timing is retained here as a source conflict, not an invitation to pay or bid. The original brochure identifies I-3 as 1,648 m² at a Base Price of ₹4,000/m², giving a calculated Reserve of ₹65,92,000 before charges, and EMD of ₹1,31,840.

The former invitation covered individuals, trusts, societies, bodies corporate, partnership firms and LLPs under Regulation 2(1)(u). Applicants had to meet the permitted-use and construction conditions for an industrial undertaking under Regulation 2(1)(l), and could not be a Disqualified Entity. Regulation 2(1)(h) excluded CPCB Red Category industries except for a Special Project; its other disqualifications also applied. Bidders living outside India had to meet applicable Indian legal requirements. NIC registration, a Class 3 Digital Signature Certificate, a signed Annexure A affidavit and payment receipts were submission prerequisites. These historical conditions do not invite a new application.

The 24 September extension moved the same 16 plots from 8–9 October to 5–6 November 2026, with submission and payment due at 09:00 IST on each plot’s day. Those dates were subsequently cancelled. The retained rows identify the former timetable and do not establish that bidding took place.

For I-59 and I-52, brochure Table 1 printed ₹17,000 while Table 4 and NIC printed ₹17,700. The cancellation uses “processing fee” without explicitly equating it to the brochure’s “e-Auction Fee”. Retain the receipt for the amount actually paid and confirm coverage with Goa IDC.

The former offer was an initial 30-year lease, with an extension sought after 10 years up to a total of 95 years. Land Premium was the highest bid rate × plot area. Annual Lease Rent was 2% × the ₹2,000/m² Plot Rate × area, plus 18% GST, increasing 10% every three years. H1 had 30 days after the result to submit the allotment application and Detailed Project Report. Premium, first-year rent and lease execution were due within 30 working days of the Provisional Allotment Order. The alternative was up to eight annual instalments at 11% simple interest, with at least 20% due within those 30 working days. Default could lead to cancellation and EMD forfeiture. These former conditions establish neither an allotment nor a current payment obligation.

Goa IDC’s brochure was GIDC/26-27/04, issued on 13/08/2026; NIC’s copy was GIDC/26-27/R-10/04, issued on 14/08/2026. Their plot and participation terms agreed. Both references identified the same Quitol round, now cancelled.

The former terms adjusted H1’s EMD against Land Premium and returned unsuccessful bidders’ EMD without interest, subject to default provisions. The pre-bid response covered a bidder awarded one of two plots under the same auction document: the unawarded plot’s EMD was refundable. It did not extend that rule across two different auction documents. The cancellation’s refund position is explained above.