Glada gets richer by R13.75 crore
The Great e r Ludhiana Area Development Authority ( GLADA) earned Rs13.75 crore through auction of 16 residential plots at Phase 1 in Dugri here on Monday.
The authority auctioned a total of 16 residential plots out of a total 18 - 10 plots of 100 square yard, one plot of 200 square yard, five plots of 300 square yard and two plots of 400 sq yard - against the reserve price of Rs 32,886 per square yard at the GLADA office. Around 70 bidders parted in the auction following the payment of eligibility fee of Rs 50,000.
However, two plots measuring 200 square yard and 300 square yards were not put under hammer by the authorities. The GLADA earned Rs13.75 crore against the reserve price of Rs 9,86,58000 from the auction of 16 plots.
The highest bid for the plots measuring 100 square yards was at Rs46,500 per square yard, while 300 square yard drew highest bid of Rs45,200 per square yard and 400 square yard plot drew highest bid of Rs 55,000 per square yard.
GLADA estate officer Anand Sagar Sharma said: “The authorities were quite satisfied with the response of bidders at the auction.”