GLADA auctions 32 properties for

The Greater Ludhiana Area Development Authority (GLADA) auctioned 32 properties and generated ₹107 crore in revenue over the week, officials aware of the developments said.
They added that a total of 58 properties, including shop-cum-offices (SCO), shop-cum-flats (SCF) and plots (residential and commercial) located across the district were put up for auction.
According to officials, this was the first GLADA auction in over a year and a half. In that tine, 1,711 sites with GLADA had not being auctioned as the agency did not have an e-auction portal.
Recently, the department came to an agreement to use the Railways’ auction portal.
During the week-long auctions, the department sold a commercial multiplex site for around ₹48.5 crore.
A total of eight SCOs fetched about ₹6 crore each and 16 SCFs in the Dugri Phase 3 market were sold for around ₹2 crore each.
GLADA still has at least 230 residential sites, 214 SCOs, 207 SCFs, 853 booths, 158 shops, two commercial plots, one institutional site, 45 public building sites and a religious site that are to be sold. There are 18 other sites ‘reserved for special purposes’, such as petrol pumps, schools, waterworks and flats.
An official said GLADA plans to conduct more auctions in the coming months.