The government of Punjab on Wednesday issued a notification regarding the reserve price of 'fancy number plates'. The Punjab government has implemented new rules for fancy numbers i.e. VIP numbers under which these numbers will now be auctioned. According to this new notification, the reserve price (minimum bid) of fancy numbers has been increased, which has come into effect with immediate effect. Apart from the new increased prices, the government has also increased the number of fancy numbers to 450. Earlier this number was 272.
While fancy number 0001 will be e-auctioned at Rs 5 lakh, it is 0295 that has been amping up curiosity among buyers. Fancy number 0295 has become special as it is being linked to the song titled 295 sung by the late Punjabi singer Sidhu Moose Wala. As per the notification, the reserve price of fancy number 0295 has been kept at Rs 1 lakh.
Apart from 0295, the number 0786 has been kept at a reserve price of Rs 2 lakh due to its religious significance. It also has links with Bollywood actor Akshay Kumar's movie Khiladi 786. The reserve price of fancy numbers from 0002 to 0009 has also been kept at Rs 2 lakh, as these numbers are also very popular. These fancy numbers are especially preferred by VVIP persons.
The auction of new series numbers was getting delayed in some districts because there was no information about the new auction rules. For example, the new series was launched in December in Mohali district, but the auction could not start. Now the auction of the PB-65 BK series has started in Mohali.
In this way, the Punjab government has started a new auction system for fancy numbers, which has increased the prices of these numbers and now bidding will have to be done to buy these numbers.
Punjab fancy number E-Auction
In the last auction, the government had earned Rs 60 crore. Now it is expected to earn Rs 100 crore. Departmental officials have said that doubling or increasing the reserve price to eight times does not give that much income because the income comes from the increase in prices in the auction, but we hope that this year we will make it crores of rupees.
As per the notification issued by the government, the e-auction participation charges will be Rs 2000 (For Sr. No. 01 & 02) and Rs. 1,000/- per number. These charges will be deposited by the owner online, for participating in the e-auction. This shall be non-refundable.
Additionally, an amount of 20 percent as earnest money deposit (EMD), should be deposited by the applicant in order to bid for the reserved registration marks to all numbers along with the non-refundable registration charges already notified.
However, the EMD will be refunded automatically to the unsuccessful bidders through the Vahan Portal managed by the NIC.