Mohali development authority generates Rs 520 cr from property sale

19 Oct 2021 CW Team

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

Infrastructure Energy

23 Dec 2025

Delhi HC Stays PGCIL Order against KEC International

KEC International has informed stock exchanges of a significant legal development concerning its eligibility to participate in tenders floated by Power Grid Corporation of India (PGCIL), in a disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations.The update follows the company’s earlier intimation dated November 18, 2025, regarding an order issued by PGCIL that excluded KEC International from participating in its tenders for a period of nine months. Challenging the said order, the company filed a writ petition before the Hon’ble High C..

LANXESS Advances Pigment Solutions for New-Age Concrete Technologies

LANXESS is deepening its engagement with next-generation concrete technologies by advancing research into the performance of iron oxide pigments across emerging construction applications, including self-compacting concrete (SCC), geopolymers and 3D-printed concrete. Through extensive investigations and long-term weathering tests, iron oxide pigments have proven their suitability for a wide range of concrete construction materials, though their use in new formulations requires a thorough understanding of construction chemistry and material interactions.According to Oliver Fleschentraeger, Techn..

JHS Svendgaard to Invest Rs 250 Million in Kala Amb Expansion

JHS Svendgaard Laboratories (JHS), a leading Indian manufacturer of oral care products, has announced an investment of Rs 250 million to expand its manufacturing footprint in Kala Amb, Himachal Pradesh. The investment is aimed at strengthening production capacity, introducing advanced technologies and supporting the company’s next phase of growth in response to rising domestic and global demand.As part of the expansion plan, JHS will construct a new 100,000 sq ft manufacturing facility on its existing five-acre land parcel at Kala Amb. The project is expected to be executed over a two-year p..