GMADA results of Commercial and Residential Plots Auction

The second auction of the Greater Mohali Area Development Authority (GMADA) held here on Monday and Tuesday was more successful than the first one held last year. A shop-cum-office (SCO) fetched the highest value of Rs 5.92 crore, a 1-kanal house went for Rs 4.60 crore on Monday and the Authority earned Rs 181.34 crore. On the second day of the auction today, 37 commercial sites were auctioned and fetched Rs 74 crore against a reserve price of Rs 61 crore. Of these, 13 were SCOs and 29 were booths. An SCO in Sector 70 went for Rs 5.92 crore. It was bought by renowned gynaecologist Dr Mangla Dogra. Another SCO in the same sector went for Rs 5.91 crore and was bought by one Amarjeet Singh. The third highest, also in Sector 70, was bought for Rs 5.90 crore by one Amit Jain. The reserve price of all of these three SCOs was Rs 5.57 crore. One Arvinder Kaur bought an SCO in Sector 68 for Rs 4.40 crore against a reserve price of Rs 3.34 crore while 20 commercial properties were sold on Monday. A booth in sector 60 fetched the highest price of Rs 82.50 lakh against a reserve price of Rs 46.75 lakh. Earlier, at the commercial auction on Monday, 22 commercial sites were sold including built-up booths in Sector 70 and GMADA earned around Rs 12 crore. The highest bid was for a booth was for Rs 45 lakh against a reserve price of Rs 8.33 lakh. The lowest bid was was for Rs 37 lakh. On Monday, the first day of the auction, GMADA earned Rs 107.34 crore from the sale of 32 residential plots. A 1-kanal plot was bought by one Suresh Kumar for Rs 4.6 crore while a 4-marla plot in Phase IX was sold for a whopping Rs 1.25 crore against a reserve price of Rs 41 lakh, taking the reserve price to Rs 92,000 per square yard. Another 1-kanal plot was sold for Rs 4.56 crore and a plot of the same size went for Rs 3.91 crore against a reserve price of Rs 2.01 crore. The lowest price fetched by a plot was Rs 3.65 crore. In Sector 56, a 6-marla plot was sold for Rs 1.16 crore. Part of the Dream Weave Walk Network 1998-2012