The Greater Mohali Area Development Aurhority (GMADA) is trying its luck for the third time by putting to auction plots that remained unsold in its earlier two attempts.
The reserve prices of the unsold plots have now been slashed by 20 per cent to attract more buyers this time.
As many as 23 plots in various categories are to be auctioned on February 5.
Rajdeep Kaur, Estate Officer, GMADA, while talking to Chandigarh Tribune, said: “Ninety per cent of the plots that will be put to auction this time had remained unsold in the earlier two auctions. The reserve prices of these plots have been slashed by 20 per cent now.”
The Estate Officer said she hoped to get a better response to the auction this time.
Shalender Anand, a former chairman of the Mohali Property Consultants Association, said the market was low and the auction was not likely to get a good response even this time.
He said some of the plots put up for auction this time remained unsold earlier while some of these were sold, but the buyers later changed their mind and decided not to go ahead with the purchase. In such cases, GMADA forfeited 10 per cent of the 25 per cent earnest money deposited by the buyers concerned.
GMADA will auction four institutional sites this time. Three of these have been reserved for nursing homes in Sectors 67 and 69, and Aerocity, and one for a primary school in Sector 64. In the commercial category, four booth sites in Sectors 53 and 56 and two SCF sites in Sector 71 will be put to auction.
As many as 13 residential sites in Sectors 61, 63, 64 and 68 will be put to auction. The size of the plots varies between 100 sq yd and 507.5 sq yd.
The reserve prices of the unsold plots have now been slashed by 20 per cent to attract more buyers this time.
As many as 23 plots in various categories are to be auctioned on February 5.
Rajdeep Kaur, Estate Officer, GMADA, while talking to Chandigarh Tribune, said: “Ninety per cent of the plots that will be put to auction this time had remained unsold in the earlier two auctions. The reserve prices of these plots have been slashed by 20 per cent now.”
The Estate Officer said she hoped to get a better response to the auction this time.
Shalender Anand, a former chairman of the Mohali Property Consultants Association, said the market was low and the auction was not likely to get a good response even this time.
He said some of the plots put up for auction this time remained unsold earlier while some of these were sold, but the buyers later changed their mind and decided not to go ahead with the purchase. In such cases, GMADA forfeited 10 per cent of the 25 per cent earnest money deposited by the buyers concerned.
GMADA will auction four institutional sites this time. Three of these have been reserved for nursing homes in Sectors 67 and 69, and Aerocity, and one for a primary school in Sector 64. In the commercial category, four booth sites in Sectors 53 and 56 and two SCF sites in Sector 71 will be put to auction.
As many as 13 residential sites in Sectors 61, 63, 64 and 68 will be put to auction. The size of the plots varies between 100 sq yd and 507.5 sq yd.
