Mohali, Nov. 17 -- Mohali Acting on the directions of the Punjab government, the Greater Mohali Area Development Authority (GMADA) is in the process of appointing three independent valuers to assess the market value of properties that have remained unsold in two or more previous auctions.

In GMADA's last auction held in October, of the total 165 properties, only 72 were sold. Among the remaining properties, many have remained unsold for the last five auctions.

Under the state government's revised e-auction policy, the reserve price of unsold properties will remain unchanged till December 31, 2026.

A senior GMADA officer said, "We have already invited bids for appointing the three valuers, who should be empanelled with nationalised bank...