Punjab body GMADA fetches Rs 1,935 crore from e-auction of properties

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CHANDIGARH: The e-auction of various properties of the Greater Mohali Area Development Authority (GMADA) has received a thumping response as the authority fetched Rs 1935.88 crore from the process, said an official statement here on Tuesday.

It said the auction process, which commenced on February 17, concluded on Monday evening.

Properties auctioned include group housing, commercial spaces, nursing home, IT industrial plots, Shop Cum Offices and booths situated in different projects of GMADA, such as IT City, Aerocity and other sectors of Mohali.

Punjab Housing and Urban Development Minister Aman Arora said this was the highest-ever revenue earned by GMADA in a single e-auction.

The minister congratulated all the successful bidders and said GMADA would provide every possible help to them in setting up their establishments.

A total of six group housing sites were available for bidding, and all of these found buyers. The highest bid of Rs 325.59 crore was received for the group housing site no 7, located in Sector 83 alpha, IT City. This site is approximately 8 acres in size, informed Aman Arora.

Another group housing site no 8 of the same location was auctioned for Rs 293.49 crore. This site also measured around 8 acres, he said.

“The group housing site no 5 of Sector 88 went for bidding of Rs 301.21 crore and another group housing site no 4 of this sector was auctioned for Rs 197.47 crore. While for the group housing site of size, approximately 4.40 acres, situated in Sector 66, a successful bid of Rs 211.32 crore was received, another site situated in this sector fetched Rs 147.72 crore,” he added.

Arora further informed that a commercial space of Aerocity, Mohali, got the bidding price of around Rs 203.80 crore and a nursing home site of Sector 69 was auctioned for Rs 13.94 crore.

“The Authority had also offered 9 IT industrial plots situated in IT City all of which were auctioned..,” the minister said.

Source: Press Trust of India