A tea seller, Sonu Kumar Jha has made a bid of paying a monthly rent of Rs 3.25 lakh for a 7 by 7 feet kiosk in Noida's Sector 18.
Noida Authority conducted an auction for the Kisk K-3 along with six other kiosks under its "allotment of commercial kiosks", earlier this month. The base price of the kiosk was around Rs 27,000 per month.
Kiosk K-3 is situated near triangle park in front of the fast food restaurant chain McDonald's in the Sector-18 market.
Sonu Kumar Jha sells gutka and tea along with his other family members. There were 20 other contenders who participated in the auction.
"Sonu will have to deposit 14 months' rent in advance to Noida Authority, i.e. around Rs 45 lakh in order to get possession of the kiosk," Sonu's father, Digambar Jha in an interview with NDTV.
Sonu's father has full confidence that his son will earn profit from the business. They plan to sell more food-related items.
Digambar Jha told NDTV that Noida Authority often removes unauthorised shops. With the K-3 kiosk, there will be no such issues and it will be a permanent solution.
from NDTV News- Topstories https://ift.tt/kcdvBVT
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