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Property auctioned by the GLADA fetches all time high bid

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As per to the sources saying @ the www.propertykhazana.com, over 100 bidders from Ludhiana, Chandigarh, Delhi and Chennai participated in the Auction for the land under the GLADA. The actual land explosion was observed in the sale of the Greater Ludhiana Area Development Authority (GLADA) as the highest bid of the shop-cum-office (SOC) extended to Rs. 2.75 Lakhs per Sq.Yd against the preserve rate of Rs. 1.10 Lakhs per Sq.Yd. Stall measuring 305.25 Sq.Yd in Sector 32 on the Samrala Road was auctioned for Rs. 8.38 Crores. About 16 sites on the Samrala Road and at the back Vardhman Mill were also put on auction. Meantime, the department received the income of Rs. 39.03 Crores against the preserve rate of Rs. 15.52 Crores therefore registering 151% growth.
Some stalls situated at the back of the Vardhman Mills were disposed against the preserve rate of Rs. 40,000 per Sq.Yd and the highest bid offered was Rs. 1.38 Lakhs. Stalls with the preserve rate of Rs. 50,000 per Sq.Yd extended the highest bid of Rs. 1.06 Lakhs per Sq.Yd. Officials retained that land rates in the proposed commercial localities are increasing, and said to the www.propertykhazana.com that, “People are interested to invest in the sanctioned localities instead of the unapproved localities. Therefore, GLADA got an awesome response from the people and the localities near by the Samrala Road will have a huge commercial rumble in future.”
Source: NBTVLIVE

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