GLADA mega e-auction commences

Kuldip Bhatia

Ludhiana, February 5

The Greater Ludhiana Area Development Authority (GLADA) has made an offer to sell 33 properties through e-auction which commenced on February 1 and bidding would remain open till 3 pm on February 10. The total reserve price of the properties stands at a staggering Rs 150 crore.

According to GLADA officials, properties to be put under the hammer included six booths and five residential plots in Dugri, Phase II; six shop-cum-offices (SCOs), five residential plots and three booths in Dugri, Phase II/III on bypass; five SCOs on Dhandari Kalan, Phase IV; one prime commercial site on Ferozepur Road, Near West End Mall (NH 95); one hotel site in Sector 32-A on main Ludhiana-Chandigarh Road and one school site in Sector 32-A (EWS Scheme).

The commercial site measuring 4356 sq mtr on Ferozepur Road has a floor price of Rs 1,61,639 per sq mtr (total cost Rs 58,39, 31,200), the hotel site in Sector 32-A with an area of 7205.85 sq mtr carries a reserve price tag of Rs 71,733 per sq mtr (total cost Rs 51.69 cr) and the school site in Sector 32-A measuring 4048.32 sq mtr would be sold with a reserve price of Rs 11,955 per sq mtr (total cost Rs 4.84 cr).

Among the 10 residential plots on the block five in Dugri, Phase II, have floor area between 83.64 to 167.28 sq mtr and a reserve price of Rs 43,002 per sq mtr while five others in Dugri, Phase III, have area between 250.93 sq mtr and 334.57 sq mtr with a floor price of Rs 38,125 per sq mtr.

The intending bidders would have to deposit eligibility fee of Rs 1 lakh each for booths, Rs 2 lakh each for a residential plot while for rest of the commercial sites 2 per cent of the total cost would have to be deposited for taking part in the e-bidding.