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E-auction of Mohali development body sites from Aug 4 to Aug 16, Real Estate News, ET RealEstate

E-auction of Mohali development body sites from Aug 4 to Aug 16, Real Estate News, ET RealEstate
MOHALI: Greater Mohali Area Development Authority (Gmada) is conducting e-auction of more than 40 sites for IT, nursing homes, industrial, commercial and residential properties in Mohali. The e-auction will start at 9am on August 4 and end at 1pm on August 16, 2021.

An official spokesman said 26 booths, 5 SCO/SCF, four 4 IT plots, one group housing site, a school and two other educational sites are available in the e-auction. Gmada has fixed the base price of these properties. For more information, those interested can visit the official website.

Earlier in April, Gmada received poor response to the auction as it managed only to sell 25% of its properties in the e-auction. Out of 44 sites, Gmada could attract only 11 bidders and earn Rs 301 crore.

A senior officer with Gmada said that a school site in Eco City-1 went for Rs 35 crore whereas a housing society site in Sector 88 went for Rs 111 crore. The auction was for commercial and institutional sites.

Gmada had fixed a reserve price of Rs 452 crore for 44 properties and fetched Rs 301 crore, whereas in the last auction, Gmada fixed reserved price of Rs 794 crore and fetched Rs 544 crore.


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