Kuldip Bhatia Ludhiana April 30 The Greater Ludhiana Area Development Authority (GLADA) has once again come a cropper when it comes to finding buyers for its much touted Glada Estate Colony on Sua Road (near Keys Hotel) is concerned. Even after extending date for submission of applications for 50 residential plots and sale of five commercial sites (SCOs) through e-auction till April 27 2021 only 10 applications were received for plots while just two SCOs were sold. According to GLADA officials in response to the latest offer 10 applications (all under general category) including seven for plots measuring 100 sqyds and three for 125 sqyds were. Not even a single application was received for the nine plots reserved for economically weaker sections (EWS). Similarly out of five SCOs put up for sale in the e-auction which concluded on April 27 just two were sold while no bids were offered for the remaining three SCO sites. Glada Estate was launched in June last year with high hopes of attracting buyers but even after an year at least three offers made for allotment of residential plots and sale of commercial sites through e-auctions had received a tepid response from buyers. In the draw of lots on March 1 2021 only 17 plots were allotted to 19 applicants (under the general category) against the offer for 70 plots. Of the nine plots reserved for the EWS no application was received. Likewise the offer for the sale of SCOs had also failed to evoke a positive response as only four SCOs out of the total nine were sold. According to offer documents the residential plots carried a reserve price of Rs29000 and Rs26100 per square yard for the general and EWS categories respectively while the SCOs had a floor price of Rs87000 per sqyd (total reserve price of Rs12006000 each).

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