“GMADA to Auction 604 Prime Properties in Mohali & New Chandigarh—A Golden Investment Opportunity!”
The Greater Mohali Area Development Authority (GMADA) is gearing up for a massive property auction from March 12 to 22, offering a lucrative opportunity for investors and homebuyers. This highly anticipated event will feature 604 premium properties spanning residential, commercial, IT, hospitality, and educational sectors, promising substantial revenue generation.
Diverse Property Options on Offer
While the reserve prices are yet to be finalized, GMADA will put on the block:
- 457 residential plots in Mohali and New Chandigarh
- 88 Shop-cum-Offices (SCOs)
- 26 retail shops
- 13 booths
- 8 mixed-use plots
- 4 IT plots
- 3 school sites
- 3 commercial sites
- 2 hotel sites
This auction includes several properties that have been previously listed but remained unsold in the last two bidding rounds held in September and October 2024. These include three school sites in Sector 80 and two near Ecocity-2, Sector 11, Block-A, New Chandigarh. Additionally, two hotel sites in Sector 66-Beta, Block-B, IT City will also be available.
Prime Locations for Investment
The upcoming auction presents opportunities to acquire SCOs and shops in prime locations such as Sectors 64, 70, 78, 79, and 80. Booths will be up for bidding in Sectors 59, 60, 61, and 69 (Block D), while residential plots are available in Sectors 63, 64, 65, 68, 69, 71, 77, 78, 79, 83 (Alpha), Aerocity, Ecocity-1, and Ecocity-2.
Bidding Process & Eligibility Fees
GMADA has classified auctioned properties into two categories based on bid amounts:
- Chunk Sites: Properties with bids exceeding ₹50 crore
- Other than Chunk Sites: Properties with bids below ₹50 crore
Interested bidders must deposit an eligibility fee in advance via the official e-auction portal (https://puda.enivida.com). The fee structure is as follows:
- Commercial, hotel, or school sites:
- ₹25 lakh for land up to 1 acre
- ₹2 crore for 1-5 acres
- ₹5 crore for 5+ acres
- SCOs, shops, booths, and residential plots:
- ₹5 lakh for properties with a reserve price up to ₹1 crore
- ₹7.50 lakh for properties priced between ₹1 crore and ₹5 crore
- ₹10 lakh for properties exceeding ₹5 crore
Record-Breaking Success in Previous Auctions
GMADA’s last auction in October 2024 generated a staggering ₹1,893.80 crore from the sale of 345 properties, making it one of the most successful auctions to date. Given the high demand for real estate in Mohali and New Chandigarh, this upcoming auction is expected to attract significant investor interest.
Why Invest in GMADA Properties?
- Strategic locations with high growth potential
- Wide range of property types catering to different investment needs
- Transparent e-auction process ensuring fair bidding
- Potential for high ROI due to increasing property values in the region
Final Thoughts
For investors and homebuyers looking for premium real estate opportunities in Mohali and New Chandigarh, GMADA’s upcoming property auction is an event not to be missed. Mark your calendars for March 12-22 and gear up to secure prime assets in one of Punjab’s fastest-growing regions!
Connect with our team for more investment options in Chandigarh Tricity
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Content Source – https://www.hindustantimes.com/cities/chandigarh-news/604-gmada-properties-to-go-under-the-hammer-in-mohali-101741465509930.html
