Greater Ludhiana Development Authority to conduct another e-auction of properties on Sept 11

Kuldip Bhatia
Ludhiana, September 9

Unmindful of the poor response to its offer for allotment of residential plots (through draw of lots) and e-auction of nine shop-cum-offices (SCOs) in a proposed colony, GLADA Estate, which made the Greater Ludhiana Area Development Authority (GLADA) extend the last date of the offer twice (the scheme is open till September 30), another mega e-auction of residential plots and commercial sites has been launched. The e-auction would open on September 11 at 9 am and the online bidding would close on September 21 at 1 pm.

In all, five residential plots and as many as 58 commercial properties would go under the hammer with a total reserve price tag of some Rs 67.43 crore. GLADA has made an offer for sale through e-auction five residential plots – three measuring 280.93 sq mtr each and two with an area of 83.64 sq mtr each in Urban Estate, Phase 3-A, at a reserve price of Rs38,125 per sqmtr.

Among the commercial properties put on the block, include 24 SCOs –four in Sector 38 on Chandigarh Road, nine in Sector 39-A on Chandigarh Road, six in Dugri, Phase 2 and 3, Bypass Road and five more in Old Courts Complex.

The SCOs with area ranging between 75.87 sqmtr (minimum) and 185.87 sqmtr would be sold at a reserve price from Rs1,05,000 per sqmtr upto Rs2,03,534 per sqmtr depending on the location.

Likewise, five shop-cum-flats (SCFs) in Sector 39, opposite Sacred Heart Convent School, 24 booths (six in Dugri Phase 2, nine in Sector 38 on Chandigarh Road, six in Sector 39, opposite Sacred Heart School and three in Dugri Phase 2 and 3, Bypass Road) would be sold at a reserve price ranging between Rs1,53,868 and Rs2,03,534 per sqmtr. Five shops with an area of 40.14 sqmtr each would also go under e-auction at a reserve price of Rs1,43,467 per sqmtr.

According to the offer document, intending bidders would have to deposit an eligibility fee of Rs2 lakh for residential plots, Rs1 lakh for booths and shops and Rs3 lakh or two per cent of the total reserve price, whichever is more for offering bids for the SCOs and SCFs.

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