The Greater Ludhiana Area Development Authority (GLADA) on Tuesday managed to sell only 22 out of a total of 50 commercial properties put on auction.
While a total of 73 bidders participated in the process,the maximum of them showed interest in properties in Dugri.
The GLADA had put its properties located in Dugri and Sector 32-A,Chandigarh road,on auction which included shops-cum-offices (SCOs),shops-cum-flats (SCFs),booths and shops.
While the total reserve price of 22 properties sold was Rs 27.37 crore,GLADA got a hike of 40% and sold them for Rs 37.52 crore. The properties auctioned comprised six SCOs and one shop in Dugri phase-1,two SCOs and 12 booths in Dugri phase-2 and one booth in Sector 32-A,Chandigarh road.
A total of 50 properties were put on auction out of which 22 were sold. A booth sold on Chandigarh road fetched the maximum price of Rs 2.11 lakh. Its reserve price was Rs 1.49 lakh. In Dugri,a booth with a reserve price of Rs 1.19 lakh was sold for a maximum of Rs 1.98 lakh. We will soon hold another auction for remaining properties on Chandigarh road, said R K Popli,estate officer,GLADA.