Kuldip Bhatia Ludhiana February 5 The Greater Ludhiana Area Development Authority (GLADA) has commenced the sale of a prime site in front of the Mini-Secretariat here and 19 other commercial sites through e-auction. The bidding process would close at 1 pm on February 15. The site (8.21 acres) is a prime commercial land right in front of the Mini-Secretariat on Ferozepur Road (a national highway) and it is being offered for sale for the 5th time with a reserve price of Rs 333.79 crore. Among other commercial sites put on the block are six shop-cum-offices (SCOs) near the Old District Courts measuring 148.69 sq m each five shops in the same complex with a floor area of 40.14 sq m each three SCOs in Old Jail Road Market with area ranging between 182.08 and 193.22 sq m and five shops in pocket 2 of Old Jail Road Market with an area of 27.87 sq m each. Possession of the sites will be handed over to successful bidders on the payment of 25 per cent — 10 per cent after the closure of the bid and another 15 per cent within 30 days of allotment. Allottees would be required to deposit the balance payment in instalments at an interest rate of 9.5 per cent per annum. For participating in the e-auction intending bidders will be required to sign up on the auction portal and obtain user ID and password. The bidders have to deposit the refundable/adjustable eligibility fee through internet banking debit card credit card RTGS or NEFT.

Stay updated with all the Latest Ludhiana headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.