GMADA’s real estate fortunes dip: Sector 62 commercial sites remain unsold for 3rd time

According to sources, the e-auction saw lukewarm response for major commercial and industrial sites. Despite offering three mixed-use plots in Aerocity, eight hotel sites in Sector 66B, and group housing, petrol pump, and school plots, GMADA couldn’t find suitable bidders. Even a 12-acre commercial site in Aerocity Block D and four two-acre plots in IT City went unsold.

Bright spot
However, Sector 78 emerged as a success story — all 17 showroom sites, priced between Rs 6.5 crore and Rs 10 crore, were sold, bringing significant revenue to GMADA. In contrast, only two showrooms and one booth found buyers in Sector 69.

Private builders gaining edge
Industry insiders say GMADA is facing stiff competition from private developers, whose projects offer flexible payment options, instant possession, and modern amenities. “Investors prefer private townships that promise faster returns and convenience,” said a local realtor.

Lack of infrastructure hurts older sectors
The older GMADA sectors suffer from poor roads, sewerage, lighting, and parking facilities while weak public transport connectivity further discourages commercial investment.

With unsold inventory piling up and competition intensifying, experts believe GMADA must revise land pricing and improve infrastructure to regain investor confidence in Mohali’s real estate market.