GMADA earns Rs 16.5 crore

Our Correspondent

Mohali, November 6

The Greater Mohali Area Development Authority (GMADA) earned Rs 16,50,10,000 by auctioning six of 20 residential plots today. The auction was held at the Community Centre in Sector 70.

GMADA had offered 20 residential plots, located in Sectors 59, 61, 63, 64, 67 and 68 here.

The reserve price varied from Rs 3,36,00,000 for a 262.50 sq yd plot in Sector 59 to Rs 1,39,20,000, for a 200 sq yd plot in Sector 63 to Rs 1,45,60,000.

The bidders showed keen interest in residential plots in Sector 68.

In all, five plots, including four plots each measuring 507.50 sq yd and one plot of 118.75 sq yd, were successfully sold.

The highest bid of Rs 4,00,00,000 was made by Rakesh Kumar for a corner plot in Sector 68.

The reserve price of this plot, measuring 507.50 sq yd, was fixed at Rs 3,04,64,000.

Sukhjeet Pal Singh, Additional Chief Administrator, GMADA, who presided over the auction proceedings, expressed satisfaction at the outcome of the auction.