Five commercial sites sold by Puda at Rupees 1.8 crore
Through a public auction, the Punjab Urban Planning and Development Authority managed to sell around 5 commercial sites for Rupees 1.8 crore in Old Jaisalmer Road at Pocket I and Pocket II. There was a reserve price separately of Rupees 84 lakh sold at a premium of 28%.
The auction was conducted by PUDA Estate Officer Jaswinder Naphra, the chief administrator Kuldip Singh and other officials. There were both highest and lowest bids like every auction and was a grand success indeed.
There were around 12 bidders who participated during this auction after they had deposited an eligibility fee for the sites of SCO. A smaller amount than the eligibility fee was paid for the booth and shop sites.
There were other offers made by PUDA as well through the auction. There were a total of 58 commercial sites and this included four SCOs and 18 other shops on Old Jail Road, 15 SCOs in Old Districts Court and six other booths in Old Tehsil of Payal.
The bidders who were successful had to pay 10% of the entire cost on the fall of the first hammer and the other 15% within about 30 days of the auction. They can take possession once they have paid 25% of the entire cost while 75% will be paid in instalments.
Source: Our Correspondent
PUDA sells five commercial sites for Rs 1.08 crore, Punjab Urban Planning and Development Authority to sell around 5 commercial sites for Rupees 1.8 crore, Rs.1.8 Crores Commercial Land for Sale in Kotkapura
