Historic Commercial Property Sale Sets New Benchmark
Mohali's commercial real estate market saw an extraordinary event as a prime 0.84-acre site in Sector 68 fetched ₹83.30 crore in PUDA's recent e-auction. This landmark transaction, carried out by MGR Trading Company, equates to roughly ₹100 crore per acre, setting new valuation benchmarks for the city's central commercial zones.
Strategic Location Drives Premium Pricing
Placed strategically behind the National Institute of Pharmaceutical Education and Research (NIPER), this commercial plot drew fierce bidding competition. The property's proximity to educational facilities and the tech corridors significantly boosted its market appeal.
Auction Highlights
- Reserve Price: ₹55.17 crore
- Final Sale Price: ₹83.30 crore
- Total Bids: 25 competitive offers
- Winning Bidder: MGR Trading Company
- Premium Over Reserve: 51% above the base price
Market Performance and Government Revenue
This successful auction was part of PUDA's extensive property sale program covering 13 cities including Mohali, New Chandigarh, Ludhiana, Jalandhar, Amritsar, and Patiala. Properties valued at ₹2,000 crore generated around ₹1,988 crore in government revenue.
Simultaneous high-value transactions included mixed-use developments in Aerocity Block B, where Gaurav Infra LLP secured an 18,223 sq m site for ₹264.69 crore. Other significant acquisitions by Springstone Developers (₹189 crore) and Krishna Infra Projects (₹188 crore) show strong investor confidence.
Future Development Prospects
This record-breaking sale highlights Mohali's rising status as a favored commercial hub. The Zirakpur Ring Road Project, with its ₹1,900 crore budget and 19.2 km six-lane bypass, promises improved connectivity and further property value appreciation by the end of 2025.