E-public sale of homes fetches Rs 52.36 crore

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Mohali, February 12

The Greater Mohali Area Development Authority (GMADA) has earned Rs nine.26 crore from the sale of eight sales space web sites and one residential plot in the e-auction, which concluded on Tuesday.
The Department of Punjab Housing and Urban Development generated Rs 52.36 crore via the 10-day e-auctioning of properties through the GMADA, Patiala Development Authority (PDA), Bathinda Development Authority (BDA) and Greater Ludhiana Area Development Authority (GLADA), Amritsar Development Authority (ADA) and Jalandhar Development Authority (JDA).

Buying A Property

According to the department spokesperson, a total of nine sites under the jurisdiction of GMADA were disposed of in the e-auction. “The highest bid of Rs 1.16 crore become acquired for a sales space in Sector 68, followed by using Rs 1.10 crore for the same website online in Sector 60 right here. “The other booth sites in Sectors sixty-four and 61 went for Rs 1 crore and Rs eighty-five lakh, respectively,” the spokesperson said and brought that a plot measuring 219.48 sq.M in Sector sixty-four become auctioned for Rs 1.64 crore.

Shailendra Anand, former chairman of Mohali Property Dealers’ Association, termed the development a superb sign for the real estate arena. “The demand for belongings in the market has improved, which is a superb sign. Earlier, proper customers had lacked from the market, and there was an acute belongings hunch. Now, properties have started out fetching top fee, which is evident from the currently held e-auctions through GMADA,” Anand said.

Meanwhile, a faculty website in Sector 32-A on the Chandigarh-Ludhiana road earned Rs four.89 crore. Besides, sales to the music of Rs 14.37 crore in GLADA, Rs five.17 crore in PDA, Rs 3.Sixty four crores in BDA, Rs 11.26 crore in JDA, and Rs eight.66 crore in ADA was generated within the public sale.