Housing & Urban Development Department earns 46.49 Crore from  e-auction

By Admin



SAS Nagar, January 10, 2019: On the conclusion of e-auction today, which had started on January 1, 2019, Housing & Urban Development Department earned total of Rs. 46.49 crore by auctioning nursing home site, cinema site, residential plots, booths, SCOs, shop sites.

Results of e-auction reveal that the bidders are inclined in buying properties offered by the government. The outcome of the e-auction also reveals that the real estate market is witnessing an upward swing in the State. The properties auctioned were located in different cities of the state viz. Patiala, Mohali, Ludhiana, Jalandhar, Amritsar, Bathinda, Gurdaspur, Nabha and Mansa.

By auctioning 5 properties including a cinema site of 1486 sq.mts. size located at Dugri, Phase-2, Urban Estate, Ludhiana, GLADA got revenue of  Rs.14.79 Crore. PDA earned Rs. 10.72 crore from auction of 16 properties. It comprised auction of a nursing home site measuring 2118 sq.mts. located at Urban Estate, Phase-2, Patiala. JDA auctioned shop sites & SCOs earning revenue of Rs.3.90 crore. BDA & ADA sold residential plots and commercial shops and generated revenue amounting to Rs. 9.45 crore & 3.97 crore respectively from selling these properties. GMADA successfully auctioned 2 residential plots for Rs. 3.66 crore

In continuation of practice of holding e-auctions monthly, the department will conduct its next e-auction from February 1-10.

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