Punjab Government’s Pro-Development Policies Attract Massive Investor Interest
Chandigarh, September 17
The Punjab government’s investor-friendly policies have yielded significant results, as development authorities across the state collectively garnered an impressive Rs 2945 crore in a single day through e-auctions.
According to Chief Minister Bhagwant Singh Mann, the auctions, which concluded on September 16, included a wide range of properties such as residential plots, commercial spaces, and commercial complexes. The overwhelming response from the public, particularly those seeking to invest in real estate, underscores the growing confidence in the state’s economic prospects.
Mann emphasized that the funds raised through these auctions will be allocated towards development projects aimed at improving the quality of life for Punjab’s residents. He commended the development authorities for conducting the auctions in a transparent and efficient manner.
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Among the key highlights of the auctions were:
- PUDA: Received bids for 162 OUVGL properties.
- GMADA: Successfully auctioned commercial plots in Sector 62, Eco City-1, Aerocity, and other areas.
- GLADA, BDA, ADA, JDA, and PDA: Also auctioned properties in their respective jurisdictions.
Successful bidders will be required to make a 10% down payment and will be granted possession upon payment of an additional 25%.
| DETAIL OF DEVELOPMENT AUTHORITIES AND REVENUE GENERATED | ||
| Sr. No. | DEVELOPMENT AUTHORITY | REVENUE GENERATED |
| 1. | PUDA | Rs. 224.11 crores |
| 2. | GMADA | Rs. 2505.45 crores |
| 3. | GLADA | Rs. 108.59 crores |
| 4. | BDA | Rs. 46.29 crores |
| 5. | PDA | Rs. 21.39 crores |
| 6. | JDA | Rs. 20.63 crores |
| 7. | ADA | Rs. 19.25 crores |
| TOTAL | Rs. 2945.71 crores | |
