The first Greater Mohali Area Development Authority (GMADA) e-auction of 2026 concluded Friday midnight with a blockbuster outcome, as 37 of the 42 properties put on the block were sold, collectively fetching a whopping Rs 3,136.97 crore — a premium of over 55 per cent against a cumulative reserve price of Rs 2,018.84 crore. Only five sites drew no bids.The auction, which opened on January 14, recorded spirited bidding across categories, underscoring renewed investor confidence in the Greater Mohali region.A senior government functionary, sharing details exclusively with The Tribune, said the strong response was testimony to GMADA’s credibility and the Punjab government’s decision to rationalise reserve prices in line with genuine market realities. “The numbers speak for themselves. When you price properties fairly, the market responds fairly — and then some,” the official said.Massive response across categoriesOf the nine property categories put to auction, all booths — 12 in all spread across Sectors 59, 60 and 61 — were sold, as were all four IT industrial plots in Sector 101 Alpha, all seven residential plots in Sector 68, and both educational/institutional and group housing sites.The auction witnessed participation from institutional investors, developers and individual buyers alike.The highest single bid of the auction was recorded for the Mix Land Use (MLU) Plot 20-21, Sector 62, which fetched Rs 603.03 crore against a reserve of Rs 517.63 crore. Another MLU site — Plot 13, Sector 62 — attracted a bid of Rs 405.68 crore. Collectively, MLU properties auctioned fetched Rs 1,474.01 crore.In the premium commercial segment, the Infosys educational plot in Sector 83 Alpha commanded a bid of Rs 238.05 crore (reserve: Rs 141.89 crore), while the institutional site near Plaksha University in Sector 101 Alpha sold for Rs 108.81 crore against its reserve of Rs 69.29 crore.Hospital site: Nearly 4 times over reserveThe biggest proportional surge among large-ticket sites was registered by Hospital Plot A2 in Aerocity Block A, which fetched Rs 269.01 crore against a reserve of Rs 68.19 crore — nearly four times the floor price, yielding a premium of Rs 200.82 crore. The two Medicity hospital plots also sold comfortably above reserve — H1 at Rs 30.14 crore (reserve: Rs 15.70 crore) and H2 at Rs 28.11 crore (reserve: Rs 12.86 crore).Aerocity draws strong housing interestBoth group housing plots in Aerocity Block G found buyers. The larger Plot No. 2, measuring 6.19 acres, fetched Rs 311.74 crore against a reserve of Rs 199.09 crore (approximately Rs 200 crore), representing a premium of over 56 per cent. Its neighbour, Plot No. 1, was sold at Rs 141.27 crore, marginally above its reserve of Rs 139.18 crore — the narrowest margin in the entire auction.IT industrial sites in high demand; fetch 3x reserveAll four IT industrial plots in Sector 101 Alpha drew competitive bids. Together, the four sites fetched Rs 286.48 crore against a combined reserve of Rs 96.66 crore — nearly three times the floor price. Industrial Plot I-1278 was the frontrunner, selling at Rs 75.37 crore against a reserve of Rs 24.43 crore.Petrol pump site: A redemption storyAmong the most striking turnarounds of the auction was the petrol pump site Block B-1, IT City, Sector 83 Alpha. It fetched Rs 30.62 crore — almost six times its reserve price of Rs 5.45 crore. The same site had drawn zero bids last year when its reserve was pegged at Rs 21 crore. The dramatic markdown in reserve price — and the equally dramatic bidder response — is being cited as the clearest vindication of the Punjab Cabinet’s decision to rationalise rates to realistic market levels.Booth in sector 59 fetches 12x its reserveThe most eye-catching proportional jump in the auction belonged not to a large commercial site but to an unassuming commercial booth. Booth No. 38, Sector 59, with a modest reserve of Rs 56.91 lakh, attracted ferocious bidding and ultimately sold for Rs 6.87 crore — nearly 12 times its floor price. The booth frenzy was broadly mirrored across the sector, with all 12 booth sites going under the hammer well above reserve.Residential plots in sector 68: All sold, all above reserveAll seven residential plots in Sector 68 found buyers, collectively fetching Rs 25.01 crore against a combined reserve of Rs 7.64 crore — over three times the floor price. Plot 1052-C commanded the highest residential bid at Rs 40.24 crore, while Plot 1064 yielded Rs 32.40 crore.Five sites draw no bidsFive sites did not attract any bids. These include three large Mix Land Use tracts — the previously designated Truck Terminal site adjoining Eco City-1 (30 acres, reserve Rs 1,311.18 crore), MLU Plot 30-34 in Sector 62 (28.08 acres, reserve Rs 1,213.72 crore), and MCH1-MU-1 in Medicity (28.22 acres, reserve Rs 961.01 crore) — along with a hotel plot in IT City Sector 66 Beta (reserve Rs 105.52 crore) and a hospital site HO2-Medicity (reserve Rs 58.41 crore).The official said GMADA would review the reserve prices for unsold sites before relaunching them, consistent with the government’s policy of keeping rates aligned with market realities.Price rationalisation: The turning pointThis was the first GMADA e-auction conducted after the Punjab Cabinet, led by Chief Minister Bhagwant Mann, approved the normalisation of reserve prices of unsold properties to bring them in line with genuine market values. Preceding auctions had seen several sites languish unsold owing to reserve prices that were perceived as unrealistic. The petrol pump site’s journey from a Rs 21-crore no-bid last year to a Rs 30.62-crore sold outcome this year — at a fraction of the earlier reserve — encapsulates the policy shift.CM’s statement“This auction is proof that transparency and fairness are the best instruments of governance. When we rationalised prices to reflect true market values, we were not giving anything away — we were removing an artificial barrier that was keeping buyers out and revenues in. Every rupee earned today belongs to the people of Punjab. Our government has ensured a level playing field where every bidder competes on merit, not connections. The resounding response endorses our decision and gives us the confidence to take this model forward,” said Punjab Chief Minister Bhagwant Mann.Category-wise auction scorecardProperty CategoryAuctionedSoldUnsoldReserve Price (Rs Cr)Auction Price (Rs Cr)Booth121209.0521.49Educational/Institutional220211.18346.86Group Housing220338.26453.01Hospital431155.16327.27Hotel321239.20172.21IT Industrial44096.66286.48Mix Land Use7434606.651,474.01Petrol Pump1105.4530.62Residential7707.6425.01Total423755,668.683,136.97Mix Land Use reserve price includes three large unsold sites worth Rs 3,485.91 crore. Sold MLU sites fetched Rs 1,474.01 crore.Bid highlightsParameterPropertyBid PriceReserve PricePremiumHighest bid (by amount)Plot 20-21, Sector 62 (Mix Land Use)Rs 603.03 croreRs 517.63 crore1.16xHighest bid vs reserve (times)Booth No. 38, Sector 59Rs 6.87 croreRs 0.57 croreRs 12xHighest absolute premiumHospital Plot A2, Aerocity Block ARs 269.01 croreRs 68.19 croreRs 3.95xLowest rise vs reserveGroup Housing Plot 1, Aerocity Block GRs 141.27 croreRs 139.18 croreRs 1.5 per centLowest bid (by amount)Booth No. 35, Sector 59Rs 75.97 lakhRs 56.91 lakhRs 34 per centUnsold sitesPropertyCategoryReserve Price (Rs Cr)Previously Truck Terminal, Adjoining Eco City-1 (30 acres)Mix Land Use1,311.18Plot No 2, IT City Sector 66 Beta (4.01 acres)Hotel105.52MCH1-MU-1, Medicity (28.22 acres)Mix Land Use961.01HO2-Medicity (4.54 acres)Hospital58.41Plot No 30-34, Sector 62 (28.08 acres)Mix Land Use1,213.72Auction at a glanceTotal Sites Auctioned42Sites Sold37Sites Unsold5Total Reserve Price (Sold Sites)Rs 2,018.84 croreTotal Auction PriceRs 3,136.97 crorePremium Over ReserveRs 1,118.13 crore (+55.4 per cent)Auction PeriodJanuary 14-March 7, 2026(SOURCE: GMADA)