Investors broke previous record in buying commercial sites. In a highly-competitive bidding process, Jaswant Singh Bhullar, president of the Mohali Ramgariah Sabha, bought a 125 sq yard showroom site in Sector 70 for Rs 6.05 crore against a reserved price of Rs 4.56 crore.
Officials in GMADA disclosed that after the auction, the average price of commercial property had touched Rs 3.37 lakh per sq yard against the reserved price of Rs 2.37 lakh per sq yard, indicating a 33 per cent increase in the average reserve price.
The second highest bid was attracted by an SCO site in Sector 70 which went for Rs 5.95 crore against a reserve price of Rs 3.95 crore. A Muktsar-based landlord, GS Brar, who also bade for another SCO for Rs 5.30 crore, bought the site.
In Phase 3A, Teesta Agro bought three sites at Rs 3.73 crore, Rs 3.71 crore and Rs 3.76 crore, respectively. The sites in Sector 71 went for comparatively low price of Rs 2.31 crore. Three booths in Sector 71 went for Rs 41 lakh, Rs 37 lakh, and Rs 38 lakh, respectively
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