E-public sale of properties fetches Rs 52.36 crore


The Greater Mohali Area Development Authority (GMADA) has earned Rs 9.26 crore from the sale of eight booth web sites and one residential plot in the e-public deal, which concluded on Tuesday.

The Department of Punjab Housing and Urban Development generated Rs 52.36 crore thru the ten-day e-auctioning of homes via the GMADA, Patiala Development Authority (PDA), Bathinda Development Authority (BDA) and Greater Ludhiana Area Development Authority (GLADA), Amritsar Development Authority (ADA) and Jalandhar Development Authority (JDA).

According to the spokesperson of the department, a complete of nine web sites underneath the jurisdiction of GMADA had been disposed of inside the e-auction. “The highest bid of Rs 1.Sixteen crore become acquired for a booth in Sector sixty-eight, followed via Rs 1.10 crore for the same website in Sector 60 here. “The different booth websites in Sectors 64 and sixty-one went for Rs 1 crore and Rs 85 lakh, respectively,” the spokesperson stated and introduced that a plot measuring 219.48 square in Sector 64 turned into auctioned for Rs 1.64 crore.
Shailendra Anand, former chairman of Mohali Property Dealers’ Association, termed the improvement a high-quality signal for actual property area here. “The call for assets within the market has progressed, which is a great signal. Earlier, authentic consumers have lacked from the marketplace, and there has been an acute property droop. Now, homes have started fetching correct rate, which is evident from the presently held e-auctions via GMADA,” Anand stated.

Meanwhile, a school website in Sector 32-A at the Chandigarh-Ludhiana avenue earned Rs four.89 crore. Besides, revenue to the song of Rs 14.37 crore in GLADA, Rs 5.17 crore in PDA, Rs three. Sixty-four crore in BDA, Rs 11.26 crore in JDA and Rs eight. Sixty-six crore in ADA become generated inside the public sale.