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Ludhiana, October 28
In what could be termed at best a moderate response to the offer for sale of 55 residential, commercial and institutional properties with a total reserve price of about Rs 115 crore, the Greater Ludhiana Area Development Authority (GLADA) sold six properties for Rs 8.48 crore at a marginal premium of 9.73 per cent. The sold properties, put together, carried a floor price tag of a little more than Rs 7.73 crore.
The GLADA Estate Officer, Sonam Chaudhary, said three residential plots in Dugri Urban Estate, Phase III, with an area of 167.28 square metre each were sold for Rs 2,12,91,900 against their reserve price of Rs 1,43,46,600. The highest bid for one plot being Rs 46,811 per square metre (reserve price Rs 23,911) while the lowest successful bid was Rs 36,711 per square metre. One school site in Sector 32 on Ludhiana-Chandigarh Road (EWS scheme) measuring 3,239 square metre was sold at the rate of Rs 12,030 per square metre against its reserve price of Rs 11,955 an the site yielded Rs 3,89,65,170.
According to the GLADA Estate Officer, two other properties sold on behalf of the Punjab Urban Planning and Development were two shop-cum-offices (SCOs) in the erstwhile PWD Rest House at Khanna. The SCOs measuring 111.52 square metre each were sold for Rs 1,11,616 (highest) and Rs 1,09,316 (lowest) per sq mtr against their reserve price of Rs 1,08,916 per square metre. The two sites were sold for Rs 2,46,38,336.
Among the unsold commercial properties put on the block were a chunk of prime commercial site on Ferozepur Road (NH 95) worth Rs 58.89 crore, a cinema site in Urban Estate Dugri, Phase II (reserve price Rs 10.66 crore), a school site in Urban Estate Dugri, Phase II (reserve price Rs 5.33 crore), seven SCOs in Dhandari Kalan, Phase IV (each with a reserve price of Rs 1.43 crore), one SCO in PWD Rest House, Khanna (reserve price Rs 1.21 crore), 27 SCOs and 11 shops in PWD Rest House, Moga.
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