Punjab to auction land and properties worth Rs 2,000 crore from March 12

Chandigarh: The Punjab government is set to auction land and properties worth Rs 2,000 crore in 13 towns, including Mohali, New Chandigarh, Ludhiana, Jalandhar, Amritsar, and Patiala.

The Punjab Urban Development Authority (PUDA) and other state development authorities will conduct the e-auction from March 12 to March 22.

Residential, commercial, and institutional sites, including group housing, schools, commercial plots, and properties such as SCOs, SCFs, and booths, will be available for bidding.

According to Greater Mohali Area Development Authority (GMADA) officials, successful bidders will be required to pay 10 per cent of the final bid price on the spot. Possession of the sites will be handed over after depositing 25 per cent of the total bid amount.

Earlier, PUDA and other regional development authorities had auctioned properties worth over Rs 2,000 crore in September and October 2024.