Chandigarh, October 30
The Punjab government has successfully generated Rs 2060 crore through the e-auction of various properties under the Department of Housing and Urban Development.
Key Highlights:
- Successful E-Auction: The e-auction process, which concluded on October 29th, saw a strong response from bidders.
- Diverse Properties: The auctioned properties included group housing, petrol pumps, hotel sites, SCOs, booths, and industrial and residential plots.
- Investor Confidence: The successful auction reflects the growing confidence of investors in Punjab’s real estate sector.
- Transparent Process: The government emphasized the transparency and efficiency of the e-auction process.
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Minister’s Statement:
Housing and Urban Development Minister Hardeep Singh Mundia attributed the success of the e-auction to the investment-friendly policies of the Punjab government led by Chief Minister Bhagwant Mann. He stated that the total revenue generated through e-auctions in the past two months has reached Rs 5000 crore.
Mundia, giving the details of the auction, said that a bid of Rs 31.16 Cr was received for the petrol pump site located at IT City Sector 83-A of Mohali. The group housing site of Sector 78 fetched a bid of Rs 163.87 Cr and the hotel site of Sector 78 itself was auctioned for Rs 33.47 Cr. Apart from this, 4 commercial sites of Sector 68, IT City, 5 industrial plots in Sector 101-A, SCOs, booths and 334 residential plots located in different sectors of Mohali were received as well.
The Housing and Urban Development Minister while divulging the details said that GMADA earned Rs 1894 Cr, GLADA Rs 61.75 Cr, BDA Rs. 16.08 Cr, PDA 59.62 Cr, JDA Rs 12.25 Cr and ADA earned Rs 16.30 Cr.
Future Outlook:
The Punjab government aims to continue its focus on urban development and infrastructure projects. By leveraging technology and transparent processes, the government aims to attract more investment and create opportunities for economic growth.
