Punjab to auction Rs 2,000 crore government land in 13 towns

The government is putting land and properties worth Rs 2,000 crore up for auction in 13 towns.

Residential, commercial, and institutional sites worth Rs 2,000 crore will be available in 13 towns, including Mohali, New Chandigarh, Ludhiana, Jalandhar, Amritsar, and Patiala, among others.

The Punjab Urban Development Authority (PUDA) and other development authorities in the state will commence the e-auction on March 12, which will conclude on March 22.

Group housing, schools, commercial plots, and other properties, such as SCOs/SCFs and booths, will be available. GMADA officials said that sites would be allotted to the successful bidder upon receiving only 10 per cent of the final bid price.

Possession of the sites would be handed over to the allottees after they deposit 25 per cent  of the bidding amount. Twice—in September and October 2024—PUDA and other regional development authorities had auctioned properties worth more than Rs 2,000 crore.