GLADA e-auction for 40 properties opens

Kuldip Bhatia

Ludhiana, August 2

The e-auction for 12 residential plots and 28 commercial sites in various schemes of the Greater Ludhiana Area Development Authority (GLADA) commenced on August 1 and the online bidding would close on August 13 at 3 pm. The total reserve price of plots and properties on the block is around Rs 71.15 crore.

The GLADA has proposed to develop a new residential colony – GLADA Estate, adjoining Shaheed Bhagat Singh Nagar colony (of Ludhiana Improvement Trust), and an offer has been made for allotment of residential plots by draw of lots. The scheme which opened on Friday would close on August 26. Applications have been invited for allotment of 169 plots measuring up to 100 square yards each and 34 plots of 100 to 125 square yards at a reserve price of Rs29,900 per square yard. In addition, 28 plots with an area of up to 100 square yards would be reserved for allotment to economically weaker sections at a concessional price of Rs26,100 per square yard.

According to GLADA officials, three residential plots (one measuring 167.28 and two others 251 sq metre each) in Dugri Phase I, five plots (three with an area each of 83.64 sq metre and two 104.55 sq metre each) in Dugri Phase II and four plots (211, 301, 325, 257 sq metre) in Sector 39-A on Samrala Road are being offered for sale at a reserve price of Rs 44,092, Rs 43,002 and Rs 32,150 per sq metre, respectively.

In addition, one hotel-cum-multiplex site, with an area of 7205.85 sq metre would be sold with a floor price of Rs 59,188 per sq metre in Sector 32-A on Main Ludhiana-Chandigarh Road. The total reserve price of the site works out to be a staggering Rs 42.65 crore and the intending bidders would have to deposit an eligibility fee of Rs 85.30 lakh.

Among other sites offered for sale through e-auction are 12 booths in Dugri Phase II with an area of 18.98 sq metre each and reserve price of Rs 1,53,868 per sq metre, 11 shop-cum-flats (SCFs) in Dugri Phase III with an area of 101.20 sq metre each and reserve price of Rs 91,692 per sq metre and four shop-cum-offices (SCOs) in Dhandari Kalan Phase IV with an area of 137.24 sq metre each and reserve price of Rs 1,09,700 per sq metre.

As per the offer document, the eligibility fee to take part in the e-auction is Rs 2 lakh for residential plots, Rs 1 lakh for booths and Rs 3 lakh for SCFs and SCOs.

New residential colony

The GLADA has proposed to develop a new residential colony – GLADA Estate, adjoining Shaheed Bhagat Singh Nagar colony (of Ludhiana Improvement Trust), and an offer has been made for allotment of residential plots by draw of lots. The scheme which opened on Friday would close on August 26. Applications have been invited for allotment of 169 plots measuring up to 100 square yards each and 34 plots of 100 to 125 square yards at a reserve price of Rs 29,900 per square yard. In addition, 28 plots with an area of up to 100 square yards would be reserved for allotment to economically weaker sections at a concessional price of Rs 26,100 per square yard.