The real estate market in Mohali is in for another test on Tuesday, when the Greater Mohali Area Development Authority (GMADA) will hold auction of freehold commercial and residential sites. GMADA has put under the hammer 45 commercial sites, including 30 booths, 11 SCOs, 4 SCFs and 8 residential sites. This year’s first auction, and the seventh since the inception of GMADA, would be held at PUDA Bhawan in Sector 62 at 11 am.
The reserve price of seven adjoining one-kanal plots in the recently vacated Jhota Kutt colony was fixed at Rs 2.52 crore. The lone semi-finished HIG flat was put on sale at a reserve price of Rs 60 lakh. SCOs are on sale in Sector 70 (6), 69 (3) and 68 (2) at a reserve price ranging between Rs 2.08-4.74 crore per square yard, reserve price for SCFs on auction in Sector 71 and Phase 3-A (2 each) was between Rs 1.7-4.47 crore per square yard.
The booths were under hammer in Phase 3-A, Sector 68 (10 each), Sector 67 and 71 (5 each) at reserve price ranging between Rs 1.56-2.55 crore per square yard.
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