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GLADA rakes in Rs 10.10 cr from e-auction of 14 properties
The Tribune  |  June 13, 2019

Kuldip Bhatia Ludhiana

The Greater Ludhiana Area Development Authority (GLADA) has collected Rs10.10 cr from e-auction of 14 properties &ndash 12 commercial sites and two residential plots — which concluded on June 10.

 

The properties were sold at a nominal premium (.6 per cent) over the reserve price of nearly Rs10.04 crore.

 

GLADA officials said among the properties sold through e-auction were one booth each in Sector 39, Opposite Sacred Heart School and Sector 38 on Ludhiana-Chandigarh Road, six booths in Dugri Phase II, four shop-cum-offices (SCOs) in Dhandari Kalan Phase IV and two residential plots in Urban Estate, Dugri Phase 3-A.

 

The booths in Sector 39 with an area of 18.98 sq mtr was sold at Rs1,20,831 per sq mtr (reserve price Rs1,20,631 per sq mtr), another in Sector 38 went for Rs2,25,590 per sq mtr (reserve price Rs2,22,690), while six booths in Dugri Phase II were taken for Rs1,64,268 (highest) and Rs1,54,368 (lowest) per sq mtr against their reserve price of Rs1,53,868 per sq mtr.

 

The SCOs in Dhandari Kalan Phase IV with a floor area of 137.24 sq mtr were sold for Rs1,10,100 (highest) and Rs1,09,900 (lowest) per sq mtr against reserve price of Rs1,09,700 per sq mtr. Similarly, two residential plots in Urban Estate Dugri with an area of 334.57 sq mtr and 83.64 sq m fetched the price of Rs38,285 per sq m against their reserve price of Rs38,125 per sq m.

 

 GLADA had put up five residential plots, one hotel site, a chunk of prime land on Ferozepur Road (opposite Mini Secretariat) and 71 other commercial sites for sale through e-auction with a combine reserve price at Rs467.85 crore.

 

No bids were offered for one chunk of prime land on Ferozepur Road, five each SCOs and shops at Old District Courts, which were to be sold on the behalf of the Punjab Urban Planning and Development Authority (PUDA) under the ‘optimum use of vacant government land’ (OUVGL) scheme.

 

The chunk of prime land measuring 33,224.69 square m (8.21 acre) alone carried a reserve price tag of Rs333.93 crore, while another 7,205.85 sq m hotel site in Sector 32-A on the main Ludhiana-Chandigarh Road had a floor price of Rs51.69 crore.

 

What goes under hammer

 

  • The booths in Sector 39 with an area of 18.98 sq m was sold at Rs 1,20,831 per sq m (reserve price Rs 1,20,631 per sq m), another in Sector 38 went for Rs 2,25,590 per sq m (reserve price Rs 2,22,690), while six booths in Dugri Phase II were taken for Rs 1,64,268 (highest) and Rs 1,54,368 (lowest) per sq m against their reserve price of Rs 1,53,868 per sq m

 

  • The SCOs in Dhandari Kalan Phase IV with a floor area of 137.24 sq mtr were sold for Rs 1,10,100 (highest) and Rs 1,09,900 (lowest) per sq mtr against reserve price of Rs 1,09,700 per sq mtr. Similarly, two residential plots in Urban Estate Dugri with an area of 334.57 sq mtr and 83.64 sq m fetched the price of Rs 38,285 per sq m against their reserve price of Rs 38,125 per sq m.

 

  • GLADA had put up five residential plots, one hotel site, a chunk of prime land on Ferozepur Road (opposite Mini Secretariat) and 71 other commercial sites for sale through e-auction with a combine reserve price at Rs 467.85 crore.