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145-sq yd residential plot in Mohali goes for whopping ₹4 crore
Greater Mohali Area Development Authority earns a staggering ₹3,136.97 crore from sale of 37 of 42 sites on offer in latest e-auction
Demand for land in Mohali appears to be intensifying, with a 145-square-yard plot in Sector 68 selling for a whopping ₹4 crore — almost four times its reserve price of ₹1.1 crore — in the latest e-auction conducted by the Greater Mohali Area Development Authority (GMADA).
In the last auction in October 2025, a 430-square-yard residential site in the same sector was sold for ₹8.86 crore, meaning a plot nearly three times larger fetched only a little more than double the price.
The strong surge in Mohali’s real estate market was reflected across the auction that ended on Friday, with the authority earning ₹3,136.97 crore from the sale of 37 of the 42 sites put up on offer — about 55% higher than the cumulative reserve price of ₹2,018.84 crore.
Compared to just 72 (44%) of 162 properties finding takers in the last auction in October 2025, this time 88% of the properties were sold, indicating heightened investor interest in the city.
The properties auctioned included residential plots, industrial plots, and hospital, school, mixed land use, hotel and group housing sites across key locations in the GMADA region. Only five sites remained unsold as they failed to attract bids.
The e-auction, which was initially scheduled to close on February 11, was extended till March 6 by the authority to attract better participation from buyers and investors. Officials said the extension helped generate wider bidding participation.
Officials confirmed that all 42 sites were part of GMADA’s long-pending unsold inventory that had remained unallotted through four to five earlier auction attempts. In a move to revive interest, the state government approved a reduction of around 22% in reserve prices, a decision that appears to have paid off with a robust market response.
Major moolah rakers
Among the various categories, mixed land use sites generated the highest revenue. Four such sites, spread across Sector 62 and Sector 68, fetched ₹1,474.01 crore against a reserve price of ₹1,120.74 crore.
Two group housing plots in Aerocity’s Block G attracted bids worth ₹453.01 crore compared to their reserve price of ₹338.26 crore. The largest parcel, spanning 6.19 acres, fetched a staggering ₹311 crore.
The demand for institutional and healthcare infrastructure also remained high. Two educational or institutional sites were sold for ₹346.86 crore against a reserve price of ₹211.18 crore. A 20-acre land parcel in Sector 83 Alpha fetched ₹238 crore, while three hospital sites together brought in ₹327.27 crore against a reserve price of ₹96.75 crore.
Industrial and hospitality segments also saw competitive bidding. Four IT industrial sites in Sector 101 fetched ₹286.48 crore against a reserve price of ₹96.66 crore.
Two hotel sites were sold for ₹172.21 crore against base value of ₹133.68 crore, including a 2.5-acre hotel site in IT City Sector 66 that fetched ₹91 crore.
Smaller commercial properties also drew significant interest. Twelve booth sites fetched ₹21.49 crore against a reserve price of ₹8.48 crore. In the residential segment, seven plots were sold for ₹25.01 crore against a reserve price of ₹7.64 crore.
In the previous auction held in October last year, GMADA had mopped up ₹1,911.69 crore by auctioning 72 commercial and residential properties at Aerocity, Ecocity-1, IT City and Sectors 67, 68, 69 and 78.
A senior GMADA official said, “With infrastructure projects, IT hubs and better connectivity coming up rapidly, the city is witnessing growing investor interest. The successful auction shows that Mohali is emerging as one of the most attractive real estate destinations in the region.”
Punjab’s housing and urban development minister Hardeep Singh Mundian said, “The success of the e-auction is the result of investor-friendly policies of the Bhagwant Mann-led government. The decision to rationalise property prices, based on realistic market assessment and aimed at preventing unreasonable price escalation, also played a key role in attracting wide participation in the auction.”
Pardeep Bansal, owner of HLP Galeria, who also bought a 6.19-acre land parcel for a housing society in Aerocity Block G for ₹311 crore, said, “Mohali is developing on the lines of Gurugram. Big investors are seeing the future potential of the city and are investing in hotels, hospitals and housing projects. We aim to bring five-star facilities to the city.”
