GMADA sells 368 properties for ₹1,986 crore

The Greater Mohali Area Development Authority (GMADA) held a successful e-auction from March 12 to 22, resulting in a revenue of ₹1,986.82 crore from the sale of 368 properties. Out of 453 sites offered, 85 did not attract any buyers. One of the notable sales included a mixed-use site in Aerocity, which was sold to Gaurav Infra LLP for ₹264.69 crore. GMADA also sold another mixed-use site of 14,059 square metres for ₹189.36 crore to Springstone Developers LLP, and a third similar site for ₹188.14 crore to Krishna Infra Projects. In addition, MGR Trading Company purchased a commercial site in Sector 68 for ₹83 crore. The auction included various types of properties, including residential plots, commercial spaces, and mixed-use sites. However, several sites, including hotels, booths, and schools, went unsold. In the last auction held in October 2024, GMADA earned ₹1,893.80 crore from 345 properties.