Latest news with #VisheshSarangal
Hindustan Times
21-06-2025
- Business
- Hindustan Times
GMADA auction: School site in Ecocity-2 fetches ₹59 crore
The Greater Mohali Area Development Authority (GMADA) managed to sell only 17 out of the 72 residential and commercial properties that were up for auction. Among these, a school site in Ecocity-2, measuring 4.02 acres, fetched ₹ 59 crore against a reserve price of ₹ 57.9 crore. The highest bidder for the school site was Blue Wing Education Society. Several sites, including 3 booths, 15 SCOs (shop-cum-offices), two hotel sites, two commercial sites, and a school site, remained unsold during the GMADA auction. (Stock image) In all, GMADA was able to generate ₹ 136 crore through the auction of these 17 properties. Two residential plots, measuring 500 square yards each in Sector 82, Alpha Block-B, IT City, were sold for ₹ 6.87 crore a piece, surpassing the reserve price of ₹ 6.35 crore. Similarly, a 300-square-yard residential plot in Block-A of Ecocity-1, fetched ₹ 3.5 crore against the reserve price of ₹ 3 crore. Residential plots, measuring 500 square yards, went for prices ranging from ₹ 5.6 crore to ₹ 6.87 crore, depending on their location within IT City and Ecocity-1. However, several sites remained unsold. These included 13 booths, 15 SCOs (shop-cum-offices), two hotel sites, two commercial sites, and a school site. GMADA chief administrator Vishesh Sarangal said, 'The auction received a good response, and we are hopeful of selling the remaining sites in the next round.' Shalinder Anand, former president of the Mohali property consultant association, attributed the tepid response to high reserve prices and market saturation. 'The reserve prices are steep, and auctions are being held almost every month. There simply aren't enough buyers. Also, similar plots are available at lower prices in the open market,' he said. In the April auction earlier this year, GMADA managed to sell only two group housing sites (totaling 12.23 acres) out of six offered (48.72 acres), generating ₹ 403.75 crore in revenue. The reserve price for the six sites was set at ₹ 1,214.52 crore. In contrast, GMADA earned record revenues in previous auctions. During the e-auction held from March 12 to 22, it collected ₹ 1,986.82 crore from the sale of 368 properties. Similarly, a Diwali auction last year fetched ₹ 1,893.80 crore from the sale of 345 properties.
Time of India
20-06-2025
- Business
- Time of India
Gmada auctions 24% of plots on offer, school site fetches Rs 59cr
1 2 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 Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo "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. MSID:: 121978383 413 |
Hindustan Times
11-06-2025
- General
- Hindustan Times
GMADA gets cracking to fix Mohali's sanitation mess
Responding to public grievances over deteriorating infrastructure, poor sanitation, and lack of cleanliness in several sectors under the Greater Mohali Area Development Authority (GMADA), chief administrator Vishesh Sarangal has deployed junior engineers (JEs) to directly oversee maintenance and hygiene standards in GMADA-controlled areas. Sarangal emphasised that GMADA bears full responsibility for maintaining public spaces it has developed. 'It is GMADA's responsibility to ensure the cleanliness and upkeep of areas it has developed. No leniency will be shown towards officers or staff found neglecting these duties,' he said. In a move to enhance accountability, Anmol Singh Dhaliwal, additional chief administrator-2, GMADA, has been appointed as the nodal officer for monitoring infrastructure upkeep and sanitation across GMADA's urban estates. He will supervise field inspections and receive regular updates from designated JEs. As per the new directive, JEs posted in their respective sectors will conduct routine inspections of roads, green belts, parks and other civic assets. They are also tasked with coordinating with sanitation contractors to ensure cleanliness standards are met and are required to submit periodic status reports to the nodal officer. The chief administrator has also issued detailed internal instructions to staff handling sanitation and infrastructure. He warned that future lapses would attract strict disciplinary action. 'Any official found guilty of dereliction of duty will be dealt with firmly,' he said. Sarangal clarified that many parts of Mohali fall outside the jurisdiction of the Municipal Corporation, making it GMADA's sole duty to provide essential civic services in those areas. 'Our responsibility doesn't end with land development. We must also address post-development issues such as sanitation and infrastructure to ensure that residents living in these sectors receive essential civic services,' he added. The GMADA sectors under the purview of this new directive include: Sectors 81, 84, 85, 86, Aerocity, 90, 91, 92, 92 Alpha, 93, IT City, 87, 88, 89, 94, 95, 96, 97, 98, 99, 100, 101, 102, 103, 104, 105, 106, 107, 108, 109, 110, 112, 113, 114, 115, 116, 74 Alpha, 117, 118, 119, 120, 121, 122, 123, 124, 125, 126, and Sectors in New Chandigarh including 1, 2, 3, 4, 5, 6, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, and 24.
Time of India
09-06-2025
- Business
- Time of India
Mohali development body to slash enhancement charges by ₹800 per sq metre
MOHALI : In a major relief to nearly 30,000 residents of sectors 76 to 80 in Mohali, the Greater Mohali Area Development Authority ( Gmada ) is set to reduce enhancement charges by Rs 800 per square metre. The charges, which were earlier pegged at Rs 3,164 per square metre, will now be revised to Rs 2,364 per square metre, subject to final approval. Enhancement charges refer to the additional amount levied on plot allottees to compensate original landowners during the land acquisition process. Gmada had taken an undertaking from all allottees at the time of plot allotment, agreeing to pay the enhancement charges as and when decided by the authority. Confirming the development, Gmada chief administrator Vishesh Sarangal said, "We have proposed to reduce the rate by Rs 800 and will soon send the proposal to the authority concerned for approval." MLA Kulwant Singh, who has been advocating for a reduction in the charges, welcomed the move. "After multiple rounds of meetings with Gmada and state govt officials, we have managed to bring the charges down. This is a significant relief for the residents. Had this decision been taken 12 years ago, residents would have been spared from considerable financial strain," he said. However, despite the reduction, discontent remains among residents. They allege that the authority is shifting the burden of a decade-long delay onto homeowners.
Time of India
08-06-2025
- Business
- Time of India
Gmada to slash enhancement charges by 800 per sq metre
1 2 3 Mohali: In a major relief to nearly 30,000 residents of sectors 76 to 80 in Mohali, the Greater Mohali Area Development Authority (Gmada) is set to reduce enhancement charges by Rs 800 per square metre. The charges, which were earlier pegged at Rs 3,164 per square metre, will now be revised to Rs 2,364 per square metre, subject to final approval. Enhancement charges refer to the additional amount levied on plot allottees to compensate original landowners during the land acquisition process. Gmada had taken an undertaking from all allottees at the time of plot allotment, agreeing to pay the enhancement charges as and when decided by the authority. Confirming the development, Gmada chief administrator Vishesh Sarangal said, "We have proposed to reduce the rate by Rs 800 and will soon send the proposal to the authority concerned for approval." MLA Kulwant Singh, who has been advocating for a reduction in the charges, welcomed the move. "After multiple rounds of meetings with Gmada and state govt officials, we have managed to bring the charges down. This is a significant relief for the residents. Had this decision been taken 12 years ago, residents would have been spared from considerable financial strain," he said. However, despite the reduction, discontent remains among residents. They allege that the authority is shifting the burden of a decade-long delay onto homeowners.
