Stay updated with the latest - Click here to follow us on Instagram
Journalism of Courage
Rs 1,214-cr Sector 62 site in Mohali back on the block: GMADA opens e-auction for 36 commercial properties
Focus on Aerocity, IT City and Sector 62; 14 SCOs and one booth also up for bidding; e-auction to continue till August 19.
GMADA has put 11 large MLU sites under the hammer. (Express File Photo)
The Greater Mohali Area Development Authority (GMADA) on Wednesday launched e-auction for 36 commercial and mixed land use (MLU) properties, with the spotlight once again on Aerocity, IT City and Sector 62.
GMADA Additional Chief Administrator (ACA) Amrinder Singh Malhi said, “The authority generated Rs3,136 crore in revenue during the previous e-auction. Encouraged by that response, GMADA has launched another round of e-auctions and is optimistic of securing strong investor participation and substantial revenue in the current bidding process.”
Among marquee offerings is the 27.78-acre MLU site at Sector 62. Notably, GMADA had earlier put the Sector 62 MLU site up for e-auction in March 2026 with a reserve price of Rs1,213.72 crore, but it failed to attract any bidders. The authority has now re-listed the property with a marginally revised reserve price of Rs1,214.16 crore, hoping to generate a better market response.
The e-auction will continue till August 19.
GMADA has put 11 large MLU sites under the hammer. These include an 18.19-acre site in Sector 83 Alpha with a reserve price of Rs 744.82 crore, a 14.10-acre site in Aerocity Block H priced at Rs 523.82 crore, and a 9.01-acre site in Sector 66 Beta with a reserve price of Rs 413.56 crore. Several other MLU sites in Aerocity Blocks I, E, G and J are also part of the auction.
Apart from MLU properties, GMADA has listed three hotel sites in Sector 66 Beta. A five-acre hotel site carries a reserve price of Rs 139.59 crore, while two 4.02-acre hotel sites have been priced at Rs 112.23 crore each.
The authority has also offered three composite commercial sites in Sector 67, with a combined reserve price of Rs 128.29 crore, and a commercial site in Sector 79, with a reserve price of Rs 114.48 crore.
In addition, sites earmarked for hospitals in Aerocity Block A, Sector 83 Alpha and Sector 79 have been included in the auction. A petrol pump site at Medicity, New Chandigarh, is also available for bidding.
14 SCOs, one booth on offer
Story continues below this ad
Alongside the larger commercial parcels, GMADA has put 14 shop-cum-office (SCO) units and one booth up for e-auction. The SCOs include two in Phase 2, four in Phase 10 and eight in D-Block, Sector 69, while the booth is located in Phase 5.
GMADA expects the auction to generate significant revenue, while attracting fresh investment in the region’s commercial and mixed-use real estate sector.
© The Indian Express Pvt Ltd
Advertisement
Loading Recommendations...
Advertisement
Live Blog