GMADA e-auction of 42 Sites in Mohali – Everything You Need to Know

Amid pandemic lockdown, GMADA (Greater Mohali Area Development Authority) is going to generate money. This is an amazing opportunity for the people who want to buy a commercial property not only in Punjab state but in other states too. As per the sources, GMADA is going to sell 42 SCO sites in the next month. The reserve price for the site has been decided as 23.75 Lake by Greater Mohali Area Development Authority. 

It is important to mention here that this is the third biggest auction of this year made by GMADA. Before this, the plots were drawn in Eco City-2 by the Development Authority which got a lot of appreciation and support from local people. Due to full and partial lockdown on different days, the property sector has again seen a great diminish. Comparatively, people investing in residential property are less. However, as per the experts of real estate dealers, if this commercial site auction by GMADA is successful then there would be a boom in the real estate sector in near future.  

As per the announcement, the bid of SDO sites will start on 1st June by the GMADA and will remain open till the 15th of June. The successful bidder will have to deposit 25 percent of the total sum of money. The rest of the money can be deposited in easy installments at the rate of 9.5 percent. GMADA is giving such e-auction options not only in newly developed sectors but also at various places of the city such as IT City and Eco City. 
Many property experts are expecting to get a good response from the people as it is auctioned by trusted GMADA. How many commercial sites have been auctioned and how many and how much people are investing in these sites can be cleared after the bidding. To know more, you can Click Here

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