Mohali, March 9 — The Greater Mohali Area Development Authority (GMADA) will auction 604 properties across multiple categories from March 12 to 22, aiming to generate significant revenue.
While the reserve price is yet to be finalized, the auction will include 457 residential plots in Mohali and New Chandigarh, 88 SCOs, 26 shops, 13 booths, eight mixed-use plots, four IT plots, three school sites, three commercial sites, and two hotel sites.
Several sites, including three school plots in Sector 80 and two near Ecocity-2, Sector 11, Block-A, are being re-auctioned for the third time after failing to attract buyers in September and October 2024. Two hotel sites in Sector 66-Beta, Block-B, IT City will also be available.
Shops and SCOs will be auctioned in Sectors 64, 70, 78, 79, and 80, while booths will be available in Sectors 59, 60, 61, and 69 (Block D). Residential sites are spread across Sectors 63, 64, 65, 68, 69, 71, 77, 78, 79, and 83 (Alpha), along with Aerocity, Ecocity-1, and Ecocity-2.
Properties receiving bids of ₹50 crore or more will be classified as “chunk sites,” while those below this threshold will be considered “other than chunk sites.”
Bidders must deposit the eligibility fee in advance via e-auction portal, with the fee being fully refundable or adjustable.
For commercial, hotel, or school sites, the eligibility fee is:
₹25 lakh for up to 1 acre
₹2 crore for 1 to 5 acres
₹5 crore for 5 acres or more
For SCOs, shops, booths, and residential plots:
₹5 lakh for properties with a reserve price up to ₹1 crore
₹7.5 lakh for properties between ₹1 crore and ₹5 crore
₹10 lakh for properties above ₹5 crore
In its previous auction in October 2024, GMADA raised ₹1,893.80 crore from the sale of 345 properties, setting high expectations for the upcoming auction.
