Srinagar, Sep 6 (KNS): A consortium backed by hotelier Mushtaq Ahmad Chaya has won the online auction for around 45 kanal of land at Sangarmal in Srinagar for Rs 421.75 crore.

The auction was conducted by the Srinagar Development Authority (SDA).

Chaya said he had decided to participate in the auction before the land was put up for bidding.

"When the Srinagar Development Authority decided to put around 45 kanal of land at Sangarmal up for online auction, I had already made up my mind to bid for it," Chaya said.Click Here To Follow Our WhatsApp Channel

He said he was prepared to continue bidding irrespective of the amount.

"Come what may, I had made up my mind that I would bid for it. I was ready to go for the bid at any cost," he said.

The consortium emerged as the successful bidder after the online bidding process conducted by the SDA.

The auction involved around 45 kanal of land at Sangarmal, a commercial area in Srinagar.(KNS)