Mohali: Sale of 368 sites fetches GMADA ₹1,986 crore

While 85 of the total 453 sites found no takers, the authority managed to sell a mixed-use-site spread over 18,223 square metres in Aerocity for ₹264.69 crore to Jalandhar-based Gaurav Infra LLP

The Greater Mohali Area Development Authority (GMADA) earned a staggering ₹1,986.82 crore in revenue from the sale of 368 properties during an e-auction held from March 12 to 22.

As many as 453 sites encompassing 406 residential plots in Mohali and New Chandigarh, 19 SCOs, 13 booths, eight mixed used, three commercial, two institutional and two hotel sites were up for grabs during the e-auction. (Getty Images/iStockphoto)

While 85 of the total 453 sites found no takers, the authority managed to sell a mixed-use-site spread over 18,223 square metres in Aerocity for ₹264.69 crore to Jalandhar-based Gaurav Infra LLP.

GMADA sold another mixed-use-site (14,059 square metres) in Aerocity for ₹189.36 crores to Springstone developers LLP.

The third property in the similar category (13766.74 square metres), also in Aerocity, went to Krishna Infra projects for ₹188.14 crore.

Meanwhile, MGR trading company secured a commercial site in Sector 68 for ₹83 crore.

As many as 453 sites encompassing 406 residential plots in Mohali and New Chandigarh, 19 SCOs, 13 booths, eight mixed used, three commercial, two institutional and two hotel sites were up for grabs during the e-auction.

While no hotel, booths and school sites were auctioned, five mixed-used properties, two commercial, 16 SCOs and 45 residential plots also went unsold. In its last auction in October 2024, GMADA had raked in ₹1,893.80 crore from the auction of 345 properties ahead of Diwali.