Glada gets richer by R13.75 crore

HT Ludhiana Live - - In&around - HT Live Cor­re­spon­dent lud­hi­ana@hin­dus­tan­times.com LUD­HI­ANA :

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.”

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