Mohali: Booth auctioned for ₹7 crore remains unsold
A Greater Mohali Area Development Authority officer said the bidder was supposed to pay 10% of the total amount in 10 days after allotment but he failed to do so
In a disappointment for the Greater Mohali Area Development Authority (GMADA), a booth in the Sector 60 (Phase 3B2) market which was auctioned for a massive ₹7 crore against the reserve price of ₹2.38 crore, remained unsold as the bidder failed to pay the amount.
The bidder merely paid around ₹2 lakh as the booking amount but did not pay the rest of the amount. The e-auction was held from September 6 to 16.
A GMADA officer said the bidder was supposed to pay 10% of the total amount in 10 days after allotment but he failed to do so. “As per the rules, an allottee has to pay 10% in the first 10 days and the rest 15% in 30 days. The bidder did not pay 10% amount and now the amount he paid at the time of auction will be forfeited,” a senior officer said. GMADA chief administrator Moneesh Kumar said a detailed review meeting would be held with the officials concerned to decide about the auction of the remaining sites.
“We will soon analyse the remaining sites and decide which sites should be included in the next auction. We will then decide about the Phase 3B2 booth as well,” he added.