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GLADA sells 22 commercial properties, earns Rs 37.52 cr

Wednesday, 07 August 2013 09:34 administrator
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The Indian Express              07.08.2013

GLADA sells 22 commercial properties, earns Rs 37.52 cr

The Greater Ludhiana Area Development Authority (GLADA) on Tuesday managed to sell only 22 out of a total of 50 commercial properties put on auction.

While a total of 73 bidders participated in the process, the maximum of them showed interest in properties in Dugri.

The GLADA had put its properties located in Dugri and Sector 32-A, Chandigarh road, on auction which included shops-cum-offices (SCOs), shops-cum-flats (SCFs), booths and shops.

While the total reserve price of 22 properties sold was Rs 27.37 crore, GLADA got a hike of 40% and sold them for Rs 37.52 crore. The properties auctioned comprised six SCOs and one shop in Dugri phase-1, two SCOs and 12 booths in Dugri phase-2 and one booth in Sector 32-A, Chandigarh road.

"A total of 50 properties were put on auction out of which 22 were sold. A booth sold on Chandigarh road fetched the maximum price of Rs 2.11 lakh. Its reserve price was Rs 1.49 lakh. In Dugri, a booth with a reserve price of Rs 1.19 lakh was sold for a maximum of Rs 1.98 lakh. We will soon hold another auction for remaining properties on Chandigarh road," said R K Popli, estate officer, GLADA.