Mohali, June 17 -- In a strong sign of investor interest, the Punjab Small Industries and Export Corporation (PSIEC) on Monday successfully auctioned all 15 industrial plots on offer in Mohali's Phase 8-B - its first such auction in four years.

Each 500-square-yard plot carried a reserve price of Rs.1.95 crore. While most plots fetched around Rs.7 crore each, one went for as high as Rs.8.5 crore, over four times its base price.

The auction raked in a whopping Rs.60 crore approximately - more than double the total reserve price of Rs.29.25 crore. All plots will be allotted against a 99-year lease.

This was PSIEC's first auction of 500-square-yard plots since the introduction of its new auction policy in January 2019. Before this, indust...