604 GMADA properties to go under the hammer in Mohali
While GMADA has yet to decide on the reserved price, it will be offering 457 residential plots in Mohali and New Chandigarh, 88 SCOs, 26 shops, 13 booths, eight mixed used plots, four IT plots, three school and commercial sites each, and two hotel sites
The Greater Mohali Area Development Authority (GMADA) is all set to auction 604 properties across various categories from March 12 to 22, with its sights set on earning bumper revenue.
While the authority has yet to decide on the reserved price, it will be offering 457 residential plots in Mohali and New Chandigarh, 88 SCOs, 26 shops, 13 booths, eight mixed used plots, four IT plots, three school and commercial sites each, and two hotel sites.
Notably, a few of these sites, including three school sites in Sector 80 and two near Ecocity-2, Sector 11, Block-A, New Chandigarh, will be included in the auction for the third time after failing to find takers in previous two auctions held in September and October last year. Two hotel sites in Sector 66-Beta, Block-B, IT City, will also be up for grabs.
While residents will be able to buy shops and SCOs in Sectors 64, 70, 78,79 and 80; booths will be available in Sectors 59, 60, 61 and 69 in Block D.
Moreover, residential sites are available in Sectors 63, 64, 65, 68, 69, 71, 77, 78, 79 and 83 (Alpha), Aerocity, Ecocity-1 and Ecocity-2.
Sites receiving bids of ₹50 crore or more will be treated as “chunk sites”, while those with bids lower than ₹50 crore will be treated as “Other than chunk sites”.
Applicants need to deposit eligibility fee online in advance through the e-auction portal, https://puda.enivida.com. The fee will be fully refundable/adjustable.
For commercial, hotel or school sites, the bidders will have to submit ₹25 lakh eligibility fee for up to 1 acre land; ₹2 crore for 1 acre to 5-acre land and ₹5 crore for 5 acre and more land.
In case of SCOs, shops, booths and residential plots, bidders need to deposit ₹5 lakh as eligibility fee for properties with reserve price up to ₹1 crore; ₹7.50 lakh for properties with reserve price of ₹1 crore to ₹5 crore, and ₹10 lakh fees for properties with reserve price of more than ₹5 crore. In its last auction in October 2024, GMADA had raked in a staggering ₹1,893.80 crore from the auction of 345 properties ahead of Diwali.
