Mohali development authority generates Rs 520 cr from property sale
Real Estate

Mohali development authority generates Rs 520 cr from property sale

The Greater Mohali Area Development Authority (GMADA) has earned Rs 520 crore by selling only 15% of properties advertised for auction. It sold 9 out of 61 properties advertised for auction.

The nine commercial properties generated Rs 520 crore, among which the commercial site in Aerocity sold for Rs 192 crore against its reserve prices of Rs 152 crore.

A housing land of 6 acres in Sector 88 sold for Rs 149 crore against its reserve price of Rs 121 crore. A hospital site of 3.5 acres sold for Rs 48 crore against its reserve price of Rs 33.5 crore. Two 1-acre commercial sites in Sector 68 were sold for Rs 40 crore each.

An institution site of 2-acre sold for Rs 24.5 crore against its reserve price of Rs 23.8 crore. A type of official showroom site in Sector 71 sold for Rs 4.25 crore against its reserve price of Rs 4.17 crore. Two IT plots were sold for Rs 23 crore against its reserve price of Rs 20 crore.

The school site in Sector 80 was not sold, having a reserve price of Rs 28.7 crore. Also, in the past four auctions, no buyer came for the school site. There are no buyers for 23number SCO and 25 booths in many sectors of the Mohali area.

This year in August, GMADA generated Rs 405 crore by the auction of nine sites from the total 44 advertised in the online auction against a reserve price of Rs 352 crore. A commercial plot in Aerocity sold for Rs 176 crore against a reserve price of Rs 172 crore.

According to an official, GMADA managed to sell about 20% of properties from the auction and fetched a handsome amount.

Image Source

Also read: Macrotech Developers Q2 FY22 sales: Bookings jump to Rs 2,003 cr

The Greater Mohali Area Development Authority (GMADA) has earned Rs 520 crore by selling only 15% of properties advertised for auction. It sold 9 out of 61 properties advertised for auction. The nine commercial properties generated Rs 520 crore, among which the commercial site in Aerocity sold for Rs 192 crore against its reserve prices of Rs 152 crore. A housing land of 6 acres in Sector 88 sold for Rs 149 crore against its reserve price of Rs 121 crore. A hospital site of 3.5 acres sold for Rs 48 crore against its reserve price of Rs 33.5 crore. Two 1-acre commercial sites in Sector 68 were sold for Rs 40 crore each. An institution site of 2-acre sold for Rs 24.5 crore against its reserve price of Rs 23.8 crore. A type of official showroom site in Sector 71 sold for Rs 4.25 crore against its reserve price of Rs 4.17 crore. Two IT plots were sold for Rs 23 crore against its reserve price of Rs 20 crore. The school site in Sector 80 was not sold, having a reserve price of Rs 28.7 crore. Also, in the past four auctions, no buyer came for the school site. There are no buyers for 23number SCO and 25 booths in many sectors of the Mohali area. This year in August, GMADA generated Rs 405 crore by the auction of nine sites from the total 44 advertised in the online auction against a reserve price of Rs 352 crore. A commercial plot in Aerocity sold for Rs 176 crore against a reserve price of Rs 172 crore. According to an official, GMADA managed to sell about 20% of properties from the auction and fetched a handsome amount. Image Source Also read: Macrotech Developers Q2 FY22 sales: Bookings jump to Rs 2,003 cr

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement