GMADA to sell 49 properties; bidding starts on October 15

Mohali, October 12

The Greater Mohali Area Development Authority (GMADA) is set to offer around 49 properties in the e-auction starting on October 15 at 9 am. The e-auction will have properties situated in different projects or sectors of SAS Nagar for bidding. It will conclude on October 30 at 1 pm.

GMADA had decided to e-auction sites due to the nature of group housing, schools, commercial chunks, and a number of other properties such as SCOs, SCFs, and booths. They are offering a wide range of properties, and with the festive season commencing with the advent of Navratras, this is the most appropriate time to place a bid for the property of one’s choice.

All the properties being offered in the e-auction are located in already developed sectors or urban estates falling under the jurisdiction of the development authority, which would be of great benefit to the successful bidders as sites would be allotted to them upon receiving only 10% of the final bid price. Moreover, the possession of the sites would be handed over to the allottees on a deposit of 25% of the bidding amount by them, stated the chief administrator Rajiv Kumar Gupta.

Mr Gupta said to place a bid in the e-auction, bidders will be required to register themselves on the e-auction portal, https://puda.e-auctions.in. He added that the bidders shall have to pay the refundable or adjustable earnest money online. Details pertaining to the properties, viz., location, size, schedule of payment, etc., would be hosted on the portal before the start of the e-auction. To assist the prospective buyers, a dedicated email helpdesk at gmada.gov.in has been provided. Interested bidders can send their queries pertaining to the auction via email, he said.

Possession after 25% of bidding amount

• GMADA had decided to e-auction sites due to the nature of group housing, schools, commercial chunks, and a number of other properties such as SCOs, SCFs, and booths
• The successful bidders will be allotted sites upon depositing only 10% of the final bid price; the possession of the sites will be handed over to the allottees on the deposit of 25% of the bidding amount by them