Real Estate boom? e-auction of 47 properties fetches 1935 crore
Kanwar Inder Singh/ March 7,2023
The e-auction of various properties of Greater Mohali Area Development Authority (GMADA), which concluded late in the evening yesterday, got thumping response as the Authority earned a sum of Rs. 1935.88 Crores. Properties auctioned include group housing, commercial chunk, nursing home, IT industrial plots, SCOs & booths situated in different projects of GMADA such as IT City, Aerocity and other sectors of SAS Nagar. The e-auction had commenced on 17th February.
Expressing happiness over the outcome of the e-auction, Punjab Housing and Urban Development Minister Aman Arora termed it as super successful. He revealed that this was the highest ever revenue earned by GMADA in a single e-auction. The H&UD Minister congratulated all the successful bidders and said that GMADA would provide every possible help to them in setting up their establishments.
A total of 6 group housing sites were available for bidding and all of these found buyers. 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 same location was auctioned for Rs. 293.49 Crore. This site also measured around 8 acres, he disclosed.
Next, 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, successful bid of Rs. 211.32 Crore was received, another site situated in this sector fetched Rs. 147.72 Crore.
Aman Arora further informed that a commercial chunk of Aerocity 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. Apart from above, the Authority had offered 9 IT industrial plots situated in IT City all of which were auctioned. Besides 19 SCOs and 38 booths of Sector 69 were also available for bidding out of which 2 SCOs and 28 booths were also disposed off, revealed Arora.
Real Estate boom? e-auction of 47 properties fetches 1935 crore. The Authority will issue allotment letter to the successful bidders on receiving 10% payment of the final bidding price and 2% cess. Possession of the sites would be handed over to these bidders after they will further deposit 15% amount of the final bid price.
Investors have posed immense faith in the functioning of Housing & Urban Development Department and the buyers will be facilitated to the fullest, the H&UD Minister added.