The phase-I auctions of granite blocks, closed on Wednesday evening and witnessed Safal Constructions Pvt Ltd and Arun Digital Corporation emerge as winners.
A real-estate developer from Ahmedabad and a businessman from Palanpur were winning bidders in the first ever e-auctions for granite blocks conducted in Gujarat.
The Phase-I auctions of granite blocks, as per a report in The Indian Express, closed on Wednesday evening and witnessed new entrants in the mining sectors such as the Ahmedabad-based Safal Constructions Pvt Ltd and Palanpur-based Arun Digital Corporation. However, it came as a surprise to see the State Government collecting a royalty of an estimated Rs 696 crore for the 30-year lease period.
The Commissioner of Geology and Mining Department of Government of Gujarat, Roopawant Singh said: "This is more than double the amount of royalty collected before e-auctions were introduced. The previous allotment regime had no concept of premium and the additional income now is due to the premium quoted by the bidder.”