Punjab News: Massive E-Auction in Punjab! Govt to Sell Land Worth ₹2,000 Crore in 13 Cities, Check Details

Punjab News: The Punjab government, under Chief Minister Bhagwant Mann, is set to conduct a massive e-auction of properties worth ₹2,000 crore across 13 cities. This significant move aims to generate revenue by selling residential, commercial and institutional sites in key urban areas, including Jalandhar, Amritsar, Ludhiana, New Chandigarh, Mohali, and Patiala. The Punjab Urban Development Authority (PUDA) and other development bodies will oversee the process, ensuring transparency and accessibility for bidders.

Punjab to Auction Prime Properties Worth ₹2,000 Crore in 13 Cities

According to reports, the Punjab Urban Development Authority (PUDA) and other development authorities have initiated preparations for the e-auction, which will take place from March 12 to March 22, 2025. The properties listed for auction include prime commercial spaces, group housing projects, school sites, and high-value institutional plots. The initiative is expected to attract significant interest from investors and developers.

Key Highlights of Punjab's E-Auction Process

• The e-auction will be conducted through a transparent digital platform.

• The available properties include commercial establishments such as Showroom-Cum-Offices (SCOs) and Shop-Cum-Flats (SCFs).

• Group housing projects and school sites will also be up for bidding.

• The sites will be allotted to the highest bidders after receiving just 10% of the final bid amount.

• Upon paying 25% of the bid amount, the successful bidder will be granted possession of the property.

Punjab's Previous Property Auctions Crossed ₹2,000 Crore Mark

This is not the first time the Punjab government has held a large-scale property auction. In September and October last year, PUDA and other development bodies successfully conducted an auction worth over ₹2,000 crore. The government aims to build on this success with the upcoming e-auction, further boosting revenue generation.

The upcoming e-auction in Punjab is expected to draw large-scale investors, builders, and institutions looking for high-value properties in key cities. With properties worth ₹2,000 crore available across 13 cities, the move is set to reshape the real estate landscape in Punjab.