Kamal Singh|Newsdesk7
••0 views•4 min read
Mohali: The Greater Mohali Area Development Authority (GMADA) has recorded a major success in its latest e-auction, generating ₹5,391 crore from the sale of 27 properties across Mohali. The properties, which included commercial plots, SCO sites, booths, hotel and hospital sites, attracted strong interest from investors and developers. According to auction details reported by The Tribune, 37 properties were offered for bidding, of which 27 were successfully sold. The total revenue of ₹5,391 crore was significantly higher than the combined reserve price of ₹3,872 crore, highlighting strong demand for prime real estate in Mohali. Sector 62 Plot Fetches ₹1,742 Crore The biggest attraction of the auction was a 27.78-acre plot in Sector 62, Mohali. The prime property was sold for ₹1,742.31 crore, substantially above its reserve price of ₹1,214.16 crore. The auction witnessed intense competition, with six bidders placing 80 bids before Aggarwal Plaza Private Limited emerged as the highest bidder. The result underlines the premium investors are willing to pay for strategically located commercial and mixed-use land in Mohali. SCO Properties See Strong Demand Commercial properties also witnessed aggressive bidding during the auction. Seven Shop-Cum-Offices (SCOs) in Sector 69, each measuring 101 square metres, were sold between ₹7.6 crore and ₹7.7 crore, compared with a combined reserve benchmark indicating a substantially lower starting price. Another corner SCO in Sector 53 fetched ₹6.02 crore, against a reserve price of ₹2.97 crore. Officials indicated that several SCO properties received bids at around twice their reserve prices, reflecting strong demand for commercial real estate in Mohali. More than 35 bidders reportedly competed for individual commercial properties, with some properties receiving around 150 bids. Hotel and Hospital Sites Also Attract Buyers The auction also highlighted growing investor interest in specialised commercial and institutional properties. A hotel site in Sector 66-Beta was purchased by Ameo Media Private Limited for ₹122.42 crore. Meanwhile, a 16,389-square-metre hospital site in Aerocity, Block A was sold to Onn Warehousing Private Limited for ₹162.16 crore, against a reserve price of ₹66.87 crore. The strong premium achieved by the hospital site could indicate growing confidence in Mohali's healthcare and institutional infrastructure. What Does the Auction Mean for Mohali Property Prices? The latest GMADA auction could have a wider impact on Mohali's real estate market. When government-owned land attracts bids significantly above reserve prices, it provides an important market signal regarding the perceived value of well-located land. The results may influence pricing expectations for nearby commercial and institutional properties. The auction also demonstrates that investors continue to see Mohali as an important growth market within the Chandigarh Tricity region. Mohali's Growing Commercial Appeal Mohali has experienced rapid development over the past several years, with expansion around sectors such as Aerocity, IT City and other planned urban areas. Improving connectivity, proximity to Chandigarh, growing residential development and increasing commercial activity have contributed to the city's attractiveness among investors. The latest auction results suggest that demand remains particularly strong for commercial land, SCO properties and strategically located institutional sites. GMADA Auction: Key Numbers Particular Details Properties offered 37 Properties sold 27 Total auction revenue ₹5,391 crore Combined reserve price ₹3,872 crore Biggest property sold 27.78 acres, Sector 62 Sector 62 final bid ₹1,742.31 crore Sector 62 reserve price ₹1,214.16 crore Sector 62 bids 80 bids Sector 62 bidders 6 Aerocity hospital site ₹162.16 crore Sector 66-Beta hotel site ₹122.42 crore The figures show the scale of the auction and the depth of investor interest in Mohali's prime locations. A Strong Signal for Mohali’s Real Estate Market The ₹5,391-crore GMADA auction is significant not only because of the revenue generated but also because of the level of competition witnessed across several property categories. The sale of the Sector 62 plot for ₹1,742 crore, along with strong premiums on commercial and institutional properties, could further strengthen Mohali's position as one of Punjab's most important real estate and investment destinations. For GMADA, the successful auction provides substantial revenue for future urban development and infrastructure. For investors, the results indicate continued confidence in Mohali's long-term commercial potential. Bottom Line GMADA's latest auction has delivered a landmark result, with 27 properties generating ₹5,391 crore after intense bidding. From the record ₹1,742-crore Sector 62 deal to high-value hospital and hotel sites, the auction reflects strong investor appetite for prime Mohali real estate. The bigger question now is whether these record-breaking bids will translate into higher property values, new commercial development and greater economic activity across Mohali in the years ahead.
Kamal Singh
Experienced journalist and writer
