Punjab Infotech auctioned 1.52 acres commercial site located in Mohali for Rs 62 crore. The reserve price for the prime commercial property was fixed at Rs 35 crore. The site is located in Sector 67 IT Park being developed by Punjab Infotech and houses leading IT and Knowledge Industry players.
The successful bidder was Nirankar Singh of Mohali out of thirteen bidders who evinced their interest in the auction. A participation fee of Rs 5 lakh had to be deposited before the commencement of auction, while 10 per cent of the auction price was deposited by the successful bidder at the fall of hammer. 15 per cent of the remaining payment has to be deposited within 30 days and 75 per cent of the balance amount has to be paid in five equated half yearly installments. PTI CHS
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