Reserve price
A reserve price is the floor an authority sets for a plot — the lowest bid it will accept. It is not the price the plot sells for. In an e-auction the plot goes for whatever the bidding reaches above that floor, so a reserve of ₹36 lakh can close far higher. PropIQ publishes the reserve because it is what the authority published; it never estimates a sale price.
Worth knowing
- A reserve is per plot and is published in the auction notice, not negotiated.
- Where an authority publishes a per-sq.m rate instead, the reserve is that rate times the plot area.
Questions people ask
What is Reserve price in a government plot auction?
A reserve price is the floor an authority sets for a plot — the lowest bid it will accept. It is not the price the plot sells for. In an e-auction the plot goes for whatever the bidding reaches above that floor, so a reserve of ₹36 lakh can close far higher. PropIQ publishes the reserve because it is what the authority published; it never estimates a sale price.
What should a bidder watch for with reserve price?
A reserve is per plot and is published in the auction notice, not negotiated.
Anything else about reserve price?
Where an authority publishes a per-sq.m rate instead, the reserve is that rate times the plot area.