Punjab Development Authorities Collect Rs 2,945 Crore via E-auction of Properties

                Punjab’s real estate market witnessed a 
significant boost as the state’s development 
authorities collectively amassed a staggering 
Rs 2,945 crore in a single day from an e-
auction of 
various properties. The auction, held on 
September 16 (Monday), is being hailed as a 
testament to its investor-friendly policies by 
the government, which has been actively 
promoting 
development and creating opportunities for 
citizens.
The e-auctions, which began on September 6, 
featured a wide range of properties including 
group housing, multiplexes, commercial 
chunks, residential plots, and small 
commercial 
establishments like booths and shops. The 
Punjab Urban Planning and Development 
Authority (PUDA) and several regional 
authorities, such as Greater Mohali Area 
Development 
Authority (GMADA), Ludhiana, and Bathinda 
Development Authorities (BDA), facilitated the 
auction, which saw enthusiastic participation 
from individuals and businesses alike.
 Chief Minister Bhagwant Mann praised the 
public’s overwhelming response and 
highlighted the government’s efforts in 
creating an investor-friendly environment. “The 
massive 
turnout for these auctions reflects the people's 
faith in our pro-development policies. Every 
penny generated from these auctions will be 
reinvested into infrastructure projects to 
further 
improve the quality of life in Punjab,” Mann 
said.
The auction results were particularly 
impressive, with GMADA alone contributing Rs 
2,505 crore to the state's coffers by 
successfully auctioning two commercial 
chunks of Sector 62 
— one each situated in Eco City-1 and Aerocity; 
three group housing sites located in Sector 66, 
Ecocity-2, and Medicity respectively; besides 
16 SCOs and 12 booths situated in 
different sectors of Mohali.
PUDA, which conducted the sale of 162 
optimum Utilization of Vacant Government 
Lands (OUVGL) properties, earned Rs 224 
crore; while GLADA brought in Rs 108 crore by 
auctioning 32 properties. The remaining 
revenue came from BDA, ADA, PDA, and JDA, 
all of which successfully auctioned several 
plots.
As per information shared, BDA was able to 
auction 23 properties, ADA and JDA found 
bidders for 34 and 22 properties respectively 
and PDA auctioned 17 properties. Mann said 
that 
the successful bidders would be allotted the 
sites on depositing the 10 percent payment 
and possession would be handed over to them 
on payment of 25 percent of the total bid 
amount.
Officials lauded the smooth and transparent 
auction process, attributing its success to the 
professionalism and dedication of the staff 
involved. These properties are expected to 
attract 
further investment and spur economic growth 
in the region.
Revenue Generated by Development 
Authorities
PUDA	 Rs 224.11 crore
GMADA	 Rs 2,505.45 crore
GLADA	 Rs 108.59 crore
BDA	 Rs 46.29 crore
PDA	 Rs 21.39 crore
JDA	 Rs 20.63 crore
ADA	 Rs 19.25 crore
Total	 Rs 2,945.71 crore

Source : Economic Time