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Home / Cities / GMADA to hold e-auction of 65 properties from July 21

GMADA to hold e-auction of 65 properties from July 21

GMADA had last conducted an auction in February, after a gap of three months, and had managed to sell just 32 of the 67 properties, despite slashing the reserve price by 20%

cities Updated: Jul 10, 2020 22:38 IST
Hillary Victor
Hillary Victor
Hindustan Times, Mohali
Hindustantimes

Trying its luck amid the Covid-19 pandemic, the Greater Mohali Area Development Authority (GMADA) will hold e-auction of 65 residential and commercial properties from July 21 to 31.

Being held after four months, the auction was earlier planned from July 1 to 10, but was postponed due to the lockdown. GMADA had last conducted an auction in February, after a gap of three months, and had managed to sell just 32 of the 67 properties, despite slashing the reserve price by 20%.

The 65 proprieties on offer this time include 16 residential properties, with plots ranging from 100 square yards to 500 square yards, and having reserve price between Rs 79 lakh and Rs 1.98 crore.

These properties are located in Eco-City 1, and Sectors 64, 61 and 56. As many as 25 booths to be auctioned are in Sectors 59, 60, 61, 63 and 65. Their reserve price ranges from Rs 81 lakh to Rs 1.93 crore. For six SCO/SCF/SSS located in Sectors 61, 53, 56 and 64, the reserve price is between Rs 3.55 crore and Rs 5.30 crore.

Seven IT industrial plots in Sector 83 and 101 will also be up for grabs for Rs 3.89 crore to Rs 15 crore depending upon the location and size. Besides this, a hotel site in Sector 66-B, with reserve price of Rs 12.70 crore, one school site in Eco-City 1 with reserve price of Rs 30 crore, three group housing sites —one in Sector 66 and two in Medicity, with reserve price ranging from Rs 71 crore to Rs 86 crore, will also be on offer.

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