E-auction of residences fetches Rs fifty two.36 crore

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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-public deal, which concluded on Tuesday.
The Department of Punjab Housing and Urban Development generated Rs fifty two.36 crore thru the ten-day e-auctioning of homes with the aid of 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).

According to the spokesperson of the department, a complete of 9 websites underneath the jurisdiction of GMADA had been disposed of in the e-auction. “The highest bid of Rs 1.Sixteen crore changed into received for a booth in Sector 68, followed with the aid of Rs 1.10 crore for the same site in Sector 60 here. “The other sales space web 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. Forty-eight squares in Sector 64 was auctioned for Rs 1.Sixty four crore.
Shailendra Anand, former chairman of Mohali Property Dealers’ Association, termed the improvement a high-quality sign for real property arena here. “The call for property inside the marketplace has progressed, which is an excellent sign. Earlier, authentic shoppers have been missing from the marketplace, and there has been an acute belongings slump. Now, houses have begun fetching a suitable price, which is clear from the currently held e-auctions by way of GMADA,” Anand stated.

Meanwhile, a college website in Sector 32-A on the Chandigarh-Ludhiana street earned Rs 4.89 crore. Besides, sales to the music of Rs 14.37 crore in GLADA, Rs 5.17 crore in PDA, Rs three. Sixty-four crores in BDA, Rs eleven.26 crore in JDA and Rs 8. Sixty-six crore in ADA was generated within the public sale.