GMADA to e-auction of 40 commercial, residential properties from Aug 4 to 16
Greater Mohali Area Development Authority (GMADA) will be holding an e-auction after a gap of three months and over 40 commercial and residential sites are up for grabs.
The e-auction will start at 9am on August 4 and end at 1pm on August 16, 2021.
As per an official spokesperson, 26 booths, five SCO/SCF, four IT plots, one Group Housing site, one school and two educational sites are available for e-auction. GMADA has fixed the base price of these properties and the information regarding these are available at www.puda.e-auctions.in.
In the last auction held in April this year, GMADA had sold 11 of the 44 sites put up for auction and earned ₹301 crore against the total reserve price of ₹452 crore. A school site of five acres in Eco City-1 went for ₹35 crore against the reserve price of ₹34.54 crore, while a group housing society of 6.5 acres in Sector 88 went for ₹111 crore against the reserve price of ₹96 crore.
In the auction held in February this year, GMADA earned ₹544 crore against ₹794 crore, while in the auction held in December last year, out of 78 properties, only 10 were sold for ₹134 crore.