GMADA gets Rs 1,935 cr from e-auction of assets

Chandigarh: The e-auction of various properties of Greater Mohali Area Development Authority (GMADA), which concluded late Monday evening, got a thumping response as the authority earned a sum of Rs 1,935.88 crore. The properties auctioned include group housing, commercial chunk, nursing home, IT industrial plots, SCOs & booths situated in different projects of GMADA such as IT City, Aerocity and other sectors of SAS Nagar. The e-auction had commenced on February 17.

Expressing happiness over the outcome of the e-auction, Punjab Housing and Urban Development Minister Aman Arora termed it as super successful. He revealed that this was the highest ever revenue earned by GMADA in a single e-auction. The H&UD minister congratulated all the successful bidders and said that GMADA would provide every possible help to them in setting up their establishments.

A total of six group housing sites were available for bidding and all of them found buyers. The highest bid of Rs 325.59 crore was received for the group housing site no. 7 located at Sector 83 alpha, IT City.

This site is approximately 8 acres in size, informed Aman Arora. Another group housing site no. 8 of same location was auctioned for Rs. 293.49 crore. This site also measured around 8 acres, he disclosed.

Next, the group housing site no. 5 of Sector 88, went for bidding of Rs. 301.21 crore and another group housing site no. 4 of this sector was auctioned for Rs. 197.47 crore.