Gmada auctions 24% of plots on offer, school site fetches Rs 59cr
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Mohali: The Greater Mohali Area Development Authority (Gmada) earned over Rs 136 crore from its latest property auction, which concluded on Thursday evening. However, the response remained lukewarm with only 17 out of 72 residential and commercial sites sold — just 24% of the total properties on offer.
The highlight of the auction was the sale of a 4.02-acre school site in Ecocity-2 that fetched Rs 59 crore, slightly above its reserve price of Rs 57.9 crore. The plot was acquired by Blue Wing Education Society, marking one of the highest single-property bids in the auction.
Among residential properties, two 500-square-yard plots in Sector 82, Alpha Block-B, IT City, sold for Rs 6.87 crore each, above their reserve price of Rs 6.35 crore.
A 300-square-yard plot in Block-A of Ecocity-1 also fetched Rs 3.5 crore, compared to its reserve price of Rs 3 crore. Other 500-square-yard plots sold ranged between Rs 5.6 crore and Rs 6.87 crore, depending on location.
However, a large number of properties remained unsold, including 13 booths, 15 shop-cum-offices (SCOs), two hotel sites, two commercial sites, and another school site.
Gmada chief administrator Vishesh Sarangal termed the auction response "satisfactory" and expressed hope of selling the remaining properties in future rounds.
by Taboola
by Taboola
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"We are optimistic that subsequent auctions will see better uptake," he said.
Meanwhile, property experts believe otherwise. "The high reserve prices and frequent auctions are causing saturation. Similar properties are available for less in the open market," said Shalinder Anand, former president of the Mohali Property Consultant Association.
Notably, in April, Gmada sold only two of six group housing sites, while in March it had earned a record Rs 1,986.82 crore through e-auctions.
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Financial challenges When a child wants to pursue a sports career, the immediate concern for parents is financing the journey so that he can avail of the best training. While the initial costs at the recreational level of play are low and manageable, the sudden jump in expenses when he transitions to professional training comes as a Kolkata-based tennis aspirant, Krishnav Jhunjhunwala, 15, first picked up a tennis racket at 6-7 years, the cost was barely Rs.5,000-6,000 a month, including his coaching fee and gear expenses. After initiating professional training at 10-11 years, the expenses shot up nearly 10 times to Rs.50,000-60,000 a month. 'The coaching fee itself has gone up from Rs.3,000 to Rs.15,000, while the beginner rackets that cost Rs.4,000-6,000 have been upgraded and are much more expensive,' says Ashish, Krishnav's father. 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'Golf or shooting would be 3-4 times more expensive because the equipment and training costs are higher, with a single golf class costing around Rs.2,000,' says Devgun. For 3-4 times a week, it could add up to Rs.30,000 a month only in coaching fee for professional coaching in cricket can also be Rs.2,000-3,000 an hour and the total cost could go up to Rs.40,000-50,000 a month. 'Cricket, like golf, is a rich man's sport now and needs money if one is serious about turning professional,' says Farhad Daruwala, Founder of Rising Star Cricket Academy in Mumbai, that trains under-privileged kids.'Critically, inflation of sports equipment tends to be much higher than general inflation and imported items are more expensive. This means a 10% general inflation could translate to 15-20% for sports gear,' says Atul Shinghal, Founder & CEO, Scripbox. So a tennis racket can easily come for Rs.20,000 today, while the cost of shooting equipment or golf clubs can run into lakhs. 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This involves advanced, personalised and intensified coaching, more rigorous physical and mental fitness and physio, and a rise in the number of tournaments to participate good news is that at this stage, some income and financial support start to come in in the form of prize money from wins, sponsorships, CSR funds (corporate social responsibility funds), scholarships, or even public sector jobs. This brings down the costs and eases the financial burden. This is the reason Viswan is planning to start looking for a sponsor from next year as Vinod's all-India ranking has shot up from 235 in 2023 to 18 now, and the reason Jhunjhunwala is looking for colleges that offer scholarships for tennis training for Krishnav. Time for a back-up plan Despite Devgun's assertion that a back-up plan takes away from the focus of reaching top levels, most parents prefer to reach for the safety net of education while allowing their kids to pursue sports. 'Without early financial planning and a strong Plan B, the journey can become financially and emotionally draining,' says Sumit Duseja, Co-founder and CEO, Truemind Capital and Sebi-registered investment adviser: 'There is a very low chance to be a successful sportsperson in India. Hence, a Plan B should always be in place as a fall-back option that supports the child in case success is not achieved as desired.''One needs to have a back-up plan because there is no guarantee in sports. I have given Vinod a time limit of five years to prove himself. He, too, isn't yet sure whether he wants to be a professional squash player or go in an allied field like sports science,' says Viswan. 'Krishnav is excelling in studies, scoring 97.8% in his ICSE class 10 exams last year. As long as he says his studies will not be affected, I'll do everything he wants to do in tennis. Besides, what will he do after 10 years given the short career span? If he doesn't reach the top level, he will opt for engineering in data science or AI,' says Jhunjhunwala. KRISHNAV JHUNJHUNWALA,15 yrs,Kolkata Parents: Ashish & Nidhi, 48 & 46 yrs CAREER GOALProfessional tennis player/engineering. CAREER TIMELINE 2016-17Started playing at 6-7 years. 2020 Professional training and coaching. 2024 Won AITA tournament in Sonepat. Reached AITA semifinals in Kolkata. 2025 West Bengal U-16 ranked No. 5, U-18 ranked No. 7. EXPENSE TIMELINE Initial expenseRs.50,000-60,000 a year Current expense Rs.3-4 lakh a year (coaching, equipment, travel, nutrition, travel, tournament fees, fitness) FINANCIAL PLANNING Goal estimate in 2015Rs.15-20 lakh Current corpus Rs.20-25 lakh Invested in: Kisan Vikas Patra, with varying maturities for liquidity; stocks and mutual funds. NAVEEN GOGIAFOUNDER & MANAGING DIRECTOR, CREED CAPITAL Note:'Pursuing a sports career in India involves high risk, with no guaranteed returns. The financial burden is also steep and front-loaded.' Education vs sports:Why financial strategy differs It's also the reason Menon is spending Rs.30-35 lakh a year, combining Aymaan's football training with his graduation in sports science from one of the top European universities in Spain, Universidad Europea. Warrier too has kept `6 crore corpus for Jaitirth for the next 3-5 years, either for education or golf. He also insists on a four-year degree course, and possibly post-graduation as well. 'If he doesn't reach the required heights, he can get into sports psychology or sports management. The four years will also give him the time to prove himself in golf,' he says.'From 18-21, the child either turns pro or pursues college sports abroad, and international education may require Rs.25-50 lakh. By 22-30, the focus shifts to career transition. Successful athletes need long-term planning and passive income strategies; others may use a pre-built Plan B fund to pivot to alternate careers,' says Gogia. Financial planning Financial planning for a sports career is different from that for education goals for various reasons (see Education vs sports). For one, large sums of money can be required at an early age and staggered across a longer period. The higher risk, uncertainty and shorter career spans also call for a unique multi-pronged approach.'Higher education can be a preplanned activity, with the knowledge of approximate cost structure and when the funds will be required. Sports is a skill-based career and one is not aware of the level of competence the child will achieve. These are unknowns for which you have to plan a higher budget, and the plan needs to evolve with skill development,' says Dinesh Rohira, Founder & CEO, requires phased, proactive planning that balances long-term growth, short-term liquidity, and flexibility,' says Gogia. So you need to plan for short-, medium- and longterm expenses in varying instruments. 'It also needs to be slightly open-ended and a secondary budget should also be planned for triggers and sudden changes,' says Rohira. OMKAR VINOD18 yrs Bengaluru Parent: Sandhya Viswan, 49 yrs CAREER GOALProfessional squash player or aligned field in sports. CAREER TIMELINE 2016Started at 9 years, played tournaments. 2018 Ranked No. 1 in Kerala. 2023 Started professional training and being ranked in U-19 category. 2025 Has been Kerala No. 1 since 2018 & all-India No. 18 in U-19. EXPENSE TIMELINE Initial expenseRs.50,000 a year Current expense Rs.4-5 lakh a year (coaching, equipment, travel, nutrition, tournament fees, fitness) FINANCIAL PLANNING Goal estimate in 2012Rs.25 lakh Current corpus Rs.50 lakh (includes other brother's Rs.25 lakh who doesn't need it) Invested in: Traditional insurance plans. 'In the first phase (5-10 years), moderate but consistent investment in basic coaching and equipment is needed; second phase (11-16 years) calls for high, rapidly increasing costs for advanced coaching, tournaments, nutrition and physio; the third phase of elite training (17-21 years) sees peak expenditure for national/international tournaments, professional academies and sports psychologists; and finally, after 21 years, there is potential income generation or investment for an alternative education/career path,' says a first step, start SIPs in equity funds (large, flexi, or multi cap) at the earliest in order to build a large corpus for the long term, which can be used for higher expenses or Plan B needs. You can also invest in the PPF for tax-free payouts and safety.'For this core corpus, I invested nearly 50% in real estate, and the remaining in multiple assets, including stocks, mutual funds, insurance and gold,' says Warrier. 'It's extremely important to hire a financial planner and have a written plan for this goal. I invested in multiple assets, but am currently relying primarily on mutual funds,' says Menon. For medium-term requirements (3-7 year horizon), start SIPs in balanced advantage funds or fixed deposits of varying maturities that can be broken without incurring penalties as and when the need arises. 'I invested in a large number of Post Office Kisan Vikas Patra with small sums and varying maturities for both my children's sports expenses in the second phase,' says Jhunjhunwala. Next, keep an operational buffer for short-term (1-3 year horizon) expenses like equipment and gear purchase or domestic tournaments, investing in liquid, arbitrage or ultra short-duration funds, or even sweep-in fixed deposits. SUPRIYA DEVGUNFOUNDER & MD, BADMINTON GURUKUL Note:'While CSR funds, scholarships and sponsorships are offered to the top talent, it's actually needed by the upcoming talent.' Given the high risk of injury, it is also crucial to have Rs.50 lakh-1 crore medical and personal accident insurance.'If earnings begin, consider setting up a trust or HUF for tax-efficient structuring. In the career phase (after 21 years), preserve wealth with a diversified mix of equity, debt, and REITs, and create passive income through annuities or systematic withdrawals. Throughout, avoid over-locking your capital; in sports, flexibility is just as important as performance,' says Gogia.'It's also important to review the plan on a regular basis, in six months or one year, depending on the career progress of the child,' advises Rohira. Long-term investment For core corpusStart saving for the child's goal, be it sport or education, at birth. This will help build a large corpus for expensive, professional training if he chooses a sport. Or, if the sports career doesn't work out, it can be used for education in aligned fields later. Where to invest Large-cap, multi-cap or flexi-cap equity mutual funds; PPF. Medium-term investment For professional trainingIn the second phase of his training between 11 and 16 years, expenses will suddenly spiral as he moves from casual to professional training and large sums will be needed for coaching, equipment and tours for tournaments. Where to invest Balanced advantage and equity savings funds, or medium-term fixed deposits for staggered withdrawals. Short-term investment For operational expenses You will need some funds throughout his sporting journey for equipment and gear, fitness, travel and coaching fees. Where to invest Liquid or ultra short-duration funds, or sweep-in fixed deposits. No trending terms available.
Time of India
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Modern thinking around misfortunate properties has been shaped by Japan's ancient Shinto religion which holds that when a person dies with regrets, their spirit lingers on earth, often at the site of their death, bearing grudges or overwhelmed by grief. Live Events "Finding renters used to be virtually impossible," said Kodama, who founded his company, Kachimode, three years ago to offer what he calls ghost investigation services for prospective buyers and tenants. "But with rising real estate prices, people have begun considering misfortunate properties as an option." Japan's property prices have rocketed on a surge in construction material and labour costs as well as an influx of overseas investors, attracted by a weak yen and the relative cheapness of local real estate. The average price for a second-hand 70-square-meter condominium in Tokyo's 23 wards, for example, jumped by more than a third in May from a year earlier to 100.9 million yen ($697,000), according to real estate research firm Tokyo Kantei. AN OLDER, LONELIER SOCIETY Japan's rapidly ageing population has led to more socially isolated deaths . The national policy agency's first-ever report on the issue said there were nearly 21,900 cases last year where the death was not discovered for eight or more days. The trend is such that the elderly can find it difficult to rent as owners worry their properties may one day become stigmatised. Partly to mitigate this problem, the central government in 2021 issued guidelines recommending that three years after such a death, homes can shed their misfortunate property labels, potentially making it easier to find tenants. But owners and agents still need to make disclosures about the property's history to all prospective buyers and to renters if they inquire. The guidelines have spurred interest in misfortunate properties. Although Kodama may be unique in offering ghost investigative services, other real estate brokers are also seeking to capitalise on this emerging market. They say that some younger people have become more open to living in misfortunate properties while both domestic and overseas investors - among them many Chinese - are attracted by potential high yields. "Investors don't care (about the property's history) because they won't live there," said Akira Ookuma, founder of broker Happy Planning, adding that some hike rents after three years. Brokers also note that whereas the site of a murder may have to be sold for 80% below regular market prices or even fail to sell at all, for other misfortunate properties, the discount can be a relatively small 20%. MarksLife, which offers services for misfortunate properties such as ceremonies for lost souls performed by a Buddhist monk, says the properties it handles have an average investment return of 8.4%. By contrast, a studio apartment in central Tokyo has an expected average return of 3.55%, according to a CBRE survey. Japan's misfortunate properties are only going to rise in number, real estate brokers say. People aged 65 or above living alone currently account for 14% of all Japanese households but in 20 years' time, they will form a fifth, the National Institute of Population and Social Security Research estimates. Kodama has yet to sign off on the Chiba property - one he now rents with plans to sublet - as ghost-free. But he says he's done more than 70 investigations and only a fraction have revealed phenomena such as electromagnetic disturbances. For some prospective buyers, his certificate might be enough. For others, though, any misfortunate property is going to be a bridge too far. "Even with discounts, I'm going to stay away ... It's not just the potential for ghosts; I'm just creeped out by the unusual and unfortunate histories," said Mari Shimamura, a 24-year-old office worker.
