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

Sonu Kumar Jha, a tea and gutka seller, has agreed to pay a 1,203 percent higher amount than the base rent of the kiosk. He will have to deposit 14 months’ rent in advance, which roughly amounts to Rs 45 lakh, to the Noida Authority.

A tea and gutka seller, Sonu Kumar Jha, has made the highest bid of Rs 3.25 lakh per month rent, about 1,203 per cent higher than the base amount, for a 7.59-metre kiosk located in the upscale Sector-18 market of Noida.

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.