GMADA Nets Rs 1.36 Billion From Auction of 17 Properties

24 Jun 2025 CW Team

Two 500-square-yard residential plots in Sector 82, Alpha Block-B, IT City, were each sold for Rs 68.7 million—well above the reserve price of Rs 63.5 million. A 300-square-yard plot in Block-A of Ecocity-1 also exceeded expectations, drawing Rs 35 million compared to a reserve of Rs 30 million.

Residential plots of 500 square yards in the auction fetched between Rs 56 million and Rs 68.7 million, with final prices largely depending on location within IT City and Ecocity-1.

Despite these successful sales, the auction saw limited overall participation. Remaining unsold were 13 booths, 15 shop-cum-offices (SCOs), two hotel sites, two commercial plots, and another school site.

GMADA Chief Administrator Vishesh Sarangal remained optimistic, stating, “The auction received a good response, and we are hopeful of selling the remaining sites in the next round.”

However, Shalinder Anand, former president of the Mohali Property Consultant Association, attributed the lukewarm outcome to steep reserve prices and frequent auctions. “The reserve prices are high, and with monthly auctions, there just aren’t enough buyers. Similar plots are also available at lower prices in the open market,” he said.

The subdued response follows an April auction in which GMADA sold only two group housing plots (totalling 12.23 acres) out of six (48.72 acres), collecting Rs 4.04 billion—well below the total reserve price of Rs 12.15 billion.

In contrast, GMADA posted record revenues in earlier events. Its March e-auction fetched Rs 19.87 billion from 368 properties, while a Diwali auction last year brought in Rs 18.94 billion from 345 sites.

The latest results reflect growing signs of market saturation and buyer caution in the region’s real estate sector, despite continued efforts by GMADA to unlock land value through regular auctions.

The Greater Mohali Area Development Authority (GMADA) managed to sell just 17 out of 72 residential and commercial properties listed in its latest auction, generating Rs 1.36 billion in revenue. A standout transaction was a 4.02-acre school site in Ecocity-2, which fetched Rs 590 million against a reserve price of Rs 579 million. The winning bid came from Blue Wing Education Society.Two 500-square-yard residential plots in Sector 82, Alpha Block-B, IT City, were each sold for Rs 68.7 million—well above the reserve price of Rs 63.5 million. A 300-square-yard plot in Block-A of Ecocity-1 also exceeded expectations, drawing Rs 35 million compared to a reserve of Rs 30 million.Residential plots of 500 square yards in the auction fetched between Rs 56 million and Rs 68.7 million, with final prices largely depending on location within IT City and Ecocity-1.Despite these successful sales, the auction saw limited overall participation. Remaining unsold were 13 booths, 15 shop-cum-offices (SCOs), two hotel sites, two commercial plots, and another school site.GMADA Chief Administrator Vishesh Sarangal remained optimistic, stating, “The auction received a good response, and we are hopeful of selling the remaining sites in the next round.”However, Shalinder Anand, former president of the Mohali Property Consultant Association, attributed the lukewarm outcome to steep reserve prices and frequent auctions. “The reserve prices are high, and with monthly auctions, there just aren’t enough buyers. Similar plots are also available at lower prices in the open market,” he said.The subdued response follows an April auction in which GMADA sold only two group housing plots (totalling 12.23 acres) out of six (48.72 acres), collecting Rs 4.04 billion—well below the total reserve price of Rs 12.15 billion.In contrast, GMADA posted record revenues in earlier events. Its March e-auction fetched Rs 19.87 billion from 368 properties, while a Diwali auction last year brought in Rs 18.94 billion from 345 sites.The latest results reflect growing signs of market saturation and buyer caution in the region’s real estate sector, despite continued efforts by GMADA to unlock land value through regular auctions.

Resources

04 Jun 2026

ULCCS Showcases Cooperative Model at UN Symposium

Uralungal Labour Contract Co-operative Society (ULCCS) showcased its community-led development model at the United Nations Headquarters in New York, where it participated as a panellist at the International Symposium on Cooperative Financial Institutions held on 28–29 May 2026.Jointly organised by the United Nations Department of Economic and Social Affairs (UN DESA), the International Cooperative Banking Association (ICBA), and the International Cooperative Alliance (ICA), the symposium was held under the theme ‘Fuelling Inclusive and Equitable Growth’ and brought together policymakers,..

Infrastructure Transport

04 Jun 2026

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Real Estate

04 Jun 2026

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..