27 GMADA Properties Fetch ₹5,391 Crore in Mega Auction Far Above Reserve Price

The latest GMADA auction in Mohali has highlighted the growing demand for strategically located real estate with a 27.78 acre mixed land use plot in Sector 62 fetching a remarkable ₹1,742.31 crore.

The Greater Mohali Area Development Authority (GMADA) had set the reserve price for the property at ₹1,214.16 crore. After competitive bidding involving six participants and around 80 bids Aggarwal Plaza Private Limited emerged as the highest bidder. The final price was more than ₹528 crore above the reserve value.

GMADA Auction Generates ₹5,391 Crore

The Sector 62 property was the most valuable asset sold during the latest GMADA e-auction. Overall 27 properties were successfully auctioned for approximately ₹5,391 crore compared with a combined reserve price of ₹3,872 crore.

The auction included commercial plots, SCOs, hotel sites, hospital sites and mixed land use properties across Mohali. Several commercial properties also attracted strong bidding reflecting substantial investor interest in established and developing sectors.

Major & Large Land Parcels 

The auction activity is part of a larger development story unfolding across Mohali where several prominent players have acquired sizable parcels.

• DKG – E Block: Approximately 6 acres valued at around ₹418 crore.
• Noble Ventures – I Block: Approximately 9.87 acres.
• Ambika – H Block: Approximately 5 acres.
• Otil Group / Deepak Garg – I Block: Around 9.50 acres.
• Chander Bansal & Tanishq Jewellers – J Block: Approximately 14.95 acres at around ₹38.39 crore per acre.
• Homeland Sector 62: Approximately 6.37 acres adjoining the old YPS site which was acquired by Homeland earlier.

What It Means for Mohali Real Estate

The record bid for Sector 62 adds another strong indicator of demand for premium land in Mohali. High-value transactions of this scale can reinforce the area's appeal among developers and institutional investors, particularly in well-planned locations with established connectivity and commercial potential.

Aerocity also witnessed significant activity during the auction, including high-value bids for mixed land-use and hospital sites.

Conclusion

The GMADA auction marks a significant transaction for Mohali's property market. Beyond the headline figure, the competitive bidding and strong overall auction collections underline the continued investor interest in strategically located Mohali real estate.