GMADA earns nearly 3137 crore through e-auction: Hardeep Singh Mundia

CHANDIGARH: In a major boost to Punjab’s real estate sector and investor confidence, the e-auction of properties conducted by the Greater Mohali Area Development Authority (GMADA) witnessed an overwhelming response from investors and generated revenue of nearly Rs.3136.97 crore. The e-auction which commenced on January 14, 2026 concluded late Friday night.

Housing and Urban Development Minister Hardeep Singh Mundian informed that out of the total 42 properties put up for bidding, 37 sites were successfully auctioned.

Describing the outcome as a remarkable success, Hardeep Singh Mundian said that bids were received for nearly 90 percent of the properties offered. The sites that had a reserve price of Rs.2018.84 crore were ultimately sold for Rs.3136.97 crore. He informed that this marks the highest revenue ever generated by GMADA through a single e-auction.