Latest news with #ExcisePolicy2025-27
Indian Express
5 days ago
- Business
- Indian Express
Auction of 50 Gurgaon liquor vends fetches Rs 1,270.40 crore; Bristol Chowk highest at Rs 98.6 crore
The third phase of liquor vend auctions was a bonanza for the Haryana Government's exchequer as bids fetched Rs 1270.40 crore, exceeding the reserve price of Rs 1198.90 crore by 5.96 per cent. Bristol Chowk at the city's elite Golf Course Road saw the highest bids at Rs 98.6 crore by G-Town Wines against a reserve (base) price of Rs 94.6 crore. Last year, the same zone last year saw the highest bid by the same winning bidder at Rs 48.28 crore against a base price of Rs 36.75 crore. The Haryana Excise and Taxation Department conducted and completed the auctions of 50 out of 79 liquor retail zones in Gurugram (East) under the Excise Policy 2025-27. The DLF-3 zone fetched Rs 63 crore against a reserve price of Rs 60 crore, the second highest in the district. The third highest was for the Shankar Chowk zone, which went at the base price of Rs 62 crore. Nawada zone saw winning bids that were 30 per cent higher than the base price, while the same for South City was 25 per cent, American Express on Southern Peripheral Road at 24.3 per cent, Badshapur at 20.9 per cent, Sikohpur 20.5 per cent, Kankrola 20.5 per cent, Sohna Road at 16.9 per cent, and Banni Square at 12 per cent. The auctions were conducted under a committee led by the deputy commissioner at the department's Resource Building office. City Magistrate Ravindra Kumar represented the commissioner during the bid opening. Amit Bhatia, Deputy Excise and Taxation Commissioner (East), said the bidding was open from 9 am on May 30 to 4 pm on May 31. The next auction round for the remaining zones in Gurugram (West) is set for June 3, with e-tenders accepted from 9 am to 4 pm, and evaluations at 5 pm. For the remaining 29 zones in Gurugram (East), tenders will be invited on June 5 from 9 am to 4 pm, with evaluations at 5 pm. The reserve price for these zones is Rs 1021 crore. Unlike previous years, where the annual beginning was in June, the excise policy this time is for 22 months, and from 2027 June onwards will be two years, leading to higher bids. The excise department allots licences through its zones in Gurgaon, and an allottee can open two vends in the zone with a cap of two to limit monopoly by big businesses. Competition from neighbouring states has increased in recent years because the policy is liberal as compared to those of other states, and the prices are low, driving many companies to make a foray into the business in Haryana, excise officials had earlier told The Indian Express. The Haryana Government has set a revenue target of Rs 14,064 crore under the current (new) excise policy. In 2024-25, the government collected Rs 12,700 crore against a target of Rs 12,650 crore.
Time of India
26-05-2025
- Business
- Time of India
With low security fee, Haryana uncorks new excise policy
Gurgaon: The excise and taxation department has unveiled significant amendments to its Excise Policy 2025-27, making it more accessible and financially viable for potential investors. Tired of too many ads? go ad free now The revised policy, effective immediately, substantially reduces entry barriers and introduces flexible payment options, marking a shift in the state's approach to liquor vend allocation. The department's reform package centres on easing the financial prerequisites for bidders. In a notable change, the initial security deposit requirement has been reduced from 3% to 2% of the bid amount, while the total security deposit has been trimmed from 15% to 11% of the zone's licence fee. This reduction, officials said, was aimed at significantly easing the upfront financial burden on prospective vendors. Further streamlining operations, bidders can now start their liquor quota lifting after depositing just 5% of the bid amount as security, down from the previous 7%. Full lifting rights will be granted upon completion of the 11% security deposit, enabling quicker business commencement. The payment structure has been reimagined as well to enhance financial flexibility, with 91% of the licence fee now payable through monthly installments. The remaining 9% will be adjusted from the deposited security during the final two months of the policy year, offering better cash flow management for operators. According to excise officials, these modifications are designed to catalyse broader market participation. "The reduced financial requirements and more flexible payment terms will likely attract a diverse range of bidders, potentially including smaller enterprises that previously found entry barriers prohibitive," said a senior official. Tired of too many ads? go ad free now The policy revisions, the official said, are expected to create a more dynamic and competitive market environment. "Allowing quota lifting with a lower initial security deposit means licencees can begin their operations sooner, potentially reducing idle time and maximising revenue generation from the start of the policy year," the official added. In response to these changes, the e-tendering schedule has been updated as well. Gurgaon (West) will open tenders on May 26, with bid evaluation scheduled for May 27. For Gurgaon (East), tenders will open on May 30, with evaluation set for May 31. Deputy excise and taxation commissioner (East) Amit Bhatia emphasised the importance of thorough policy review. "All prospective bidders are strongly encouraged to review the complete amended Excise Policy 2025-27, which is available on the official website at he added. "By reducing financial barriers and introducing more flexible operational terms, the policy revisions are poised to attract more participants and foster a more robust and competitive liquor retail sector in the state," he said.
