Man pays Rs 1 Million for a Number Plate !

Must Read

WhatsApp Might Lose 60 Million Indian Users Post Updated Policy Changes, New Survey Reveals!

The Facebook-owned instant messaging platform’s decision to update their privacy and terms of service brought about a...

Uber and Ola In Hot Water: India Authorities Launch Fresh Probe!

The Directorate General of Goods and Services Tax Intelligence (DGGI) sent a summons to Uber and Ola...

Trump Administration Has Landed Its Final Blow On Chinese Companies: Xiaomi Blacklisted!

In its recent move to safeguard national security, the United States’ Trump Administration has decided to go...

It may be very usual thing in Dubai where people are crazing behind the fancy number for their luxury cars, but not very much much in India. Rarely we hear news about people paying thousands of rupees for a Number Plate but this time the craze has gone beyond the head of a Chandigarh resident named Narinder Singh Shergill who paid USD 23,000 ( INR 1,000,000 ) for a Number plate – 0001.

Shergill’s adventure in picking up the expensive number at an auction here last week – which cost him half the price of the Toyota Fortuner SUV that he recently bought for around Rs 2 million – may have earned him a few angry words from his wife but the proud owner of the number, CH-01AC-0001, has no regrets for paying a high price for the number.

“My wife did get angry when I went home after buying the number at the auction. I always wanted that number and for something that you really desire, the price does not remain important,” said Shergill, who is an agriculturist now dealing in real estate. “I was shocked initially when I learnt that he (Shergill) had bought the 0001 number at such a high cost. At this price, we could have bought another luxury car or two mid-segment cars,” wife Jaskaran Kaur said.

Advertisements

Shergill had recently received compensation running into nearly Rs 20 million (Rs 2 crore) for a prime piece of land, 20 km from here in Punjab, which the government acquired for expansion of a national highway. Shergill is certainly not the only one chasing ‘VIP’ numbers for high prices.

In recent years, nearly half a dozen people have paid up to half a million rupees to pick up the ‘0001’ series number. In Punjab’s Jalandhar city, 150 km from here, a Delhi-based businessman, Pravin Chaudhary, bought the ‘0001’ series number for his luxury Rs.20 million Bentley car for a whopping Rs 725,000 in August 2008.

The non-resident Indian (NRI) owner of a C-class Mercedes bought a VIP number – CH-04-0001 – for that price in April 2007. NRI from Britain, Santokh Singh, was able to get the better of nine other bidders as they tried their best to get the ‘0001’ number in the newly launched series for Chandigarh. The reserve price for the number was Rs 25,000. Any number of choice comes for a reserve price of Rs 5,000 to Rs 15,000 if it does not have more than one bidder.

“Earlier only influential people used to get hold of VIP numbers. Now, if you have the money and the intention, it’s yours for the taking,” said businessman Vikram Singh. The craze for VIP numbers has been quite evident in the last 5-6 years when the open auctioning of these registration numbers started in Chandigarh. The highest-ever bid made for any number was Rs 505,000 two years ago for the CH-03-U-0001 series.

The registration and licencing authority (RLA) here has been generating a lot of revenue – running into a few millions – for the government though the sale of numbers. Chandigarh has the distinction of having one of the highest densities of motor vehicles in the country. For a population of just over 1.1 million, there are over 650,000 registered vehicles. However, the VIP numbers do not always fetch such high stakes.

Advertisements

In a previous registration series launched for Chandigarh (CH-03-Z-0001), the number went for just Rs 85,000 as there were not too many bidders for the last alphabet (Z) of the ‘CH-03’ series.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Snapchat Spotlight: A New Way for Creators to Earn Money

Short-form video applications have increased overwhelmingly in popularity in recent times. The surge in this format of...

COVID-19 Unemployment Leading To Ageing Indian Workforce, CMIE Reports

The latest data shared by the CMIE aka Centre for Monitoring Indian Economy has highlighted a huge red flag.

The Slip-Ups Keep On Coming: WhatsApp Web Users’ Mobile Data Leaked On Google

As the developments have unfolded over the past week, the clock for WhatsApp seems to be ticking with every passing minute and...

Trump Administration Has Landed Its Final Blow On Chinese Companies: Xiaomi Blacklisted!

In its recent move to safeguard national security, the United States’ Trump Administration has decided to go after China’s second-biggest smartphone marker...

Huawei Is Gunning For Acquiring A Fifth Of Android’s Userbase With Its Own HarmonyOS!

After Google’s ban on Huawei in 2019, the Chinese-origin tech company is all set to roll out HarmonyOS later in 2021 as...

Battle Lines Are Drawn: Qualcomm’s Latest Acquisition to Challenge Apple, Intel

The quest to gain supremacy creates a butterfly effect for sure. With the challengers and the champion pulling out all stops to...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This