Mohali, June 21 -- 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 Rs.59 crore against a reserve price of Rs.57.9 crore. The highest bidder for the school site was Blue Wing Education Society.

In all, GMADA was able to generate Rs.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 Rs.6.87 crore a piece, surpassing the reserve price of Rs.6.35 crore. Similarly, a 300-square-yard residential plot in Block-A of Ecocity-1, fetched Rs.3.5 crore against the r...