GMADA's Real Estate Woes: Sector 62 Sites Unsold for Third Time
The Greater Mohali Area Development Authority (GMADA) faces a real estate slowdown as high land prices and poor infrastructure deter investors. Experts suggest revising land pricing and enhancing facilities to revive investor confidence.
Real EstateGmadaMohaliLand PricesInfrastructureReal EstateOct 16, 2025
Officials said that the steep reserve price of over Rs 75 crore per acre discouraged investors, especially when land in nearby localities costs between Rs 8 crore and Rs 15 crore per acre. This widening gap has reduced investor interest outside high-value locations such as Aerocity and IT City, which continue to dominate demand.
According to sources, the e-auction saw a lukewarm response for major commercial and industrial sites. Despite offering three mixed-use plots in Aerocity, eight hotel sites in Sector 66B, and group housing, petrol pump, and school plots, GMADA couldn’t find suitable bidders. Even a 12-acre commercial site in Aerocity Block D and four two-acre plots in IT City went unsold.
However, Sector 78 emerged as a success story — all 17 showroom sites, priced between Rs 6.5 crore and Rs 10 crore, were sold, bringing significant revenue to GMADA. In contrast, only two showrooms and one booth found buyers in Sector 69.
Industry insiders say GMADA is facing stiff competition from private developers, whose projects offer flexible payment options, instant possession, and modern amenities. “Investors prefer private townships that promise faster returns and convenience,” said a local realtor.
The older GMADA sectors suffer from poor roads, sewerage, lighting, and parking facilities while weak public transport connectivity further discourages commercial investment.
With unsold inventory piling up and competition intensifying, experts believe GMADA must revise land pricing and improve infrastructure to regain investor confidence in Mohali’s real estate market.
Frequently Asked Questions
Why are commercial sites in Sector 62 unsold for the third time?
The high reserve price of over Rs 75 crore per acre and the availability of cheaper land in nearby areas are deterring investors.
Which sectors are still in demand in Mohali?
Prime sectors like Aerocity and IT City continue to dominate demand in Mohali's real estate market.
What is the main competition GMADA faces in the real estate market?
GMADA faces stiff competition from private developers who offer flexible payment options, instant possession, and modern amenities.
What are the issues with older GMADA sectors?
Older GMADA sectors suffer from poor roads, sewerage, lighting, parking facilities, and weak public transport connectivity, which discourage commercial investment.
What steps can GMADA take to revive investor confidence?
Experts suggest that GMADA should revise land pricing and improve infrastructure to attract more investors in Mohali’s real estate market.
Related News Articles
Honoring Excellence in Indian Real Estate: Realty+ Women Icon Awards 2024
Realty+ celebrates women leaders in Indian real estate, pushing boundaries and driving growth.
Purva Home Fest 2024: A Grand Celebration of Home Buying in Mumbai and Pune
Get ready to find your dream home as Puravankara, a renowned real estate developer in India, presents the Purva Home Fest 2024 in Mumbai and Pune, starting from Navratri.
Latest Developments in the Indian Real Estate and Infrastructure Sectors: Godrej Properties, L&T, Indian Oil, PNC Infratech, NALCO in Focus
Godrej Properties Ltd has made a strategic move by acquiring three adjoining plots totaling 6.54 acres in Kharghar, Mumbai. This acquisition comes at a time when the real estate market is witnessing robust housing demand, making it a significant step for
Rise of Certified Real Estate Professionals: Lamrin Tech Skills University Takes the Lead
The real estate market in India has matured, becoming more organized and transparent. It's time for a unified policy in the sector, and Lamrin Tech Skills University is leading the way by awarding certifications to real estate professionals.
FASTag Becomes Mandatory at MSRDC Toll Plazas from April 2025
Starting from April 2025, the Maharashtra State Road Development Corporation (MSRDC) will enforce the mandatory use of FASTag at all its toll plazas, marking a significant step towards streamlining toll payments and reducing traffic congestion.
Pune Set to Launch Trump World Center: India's First Trump-Branded Office Complex
Pune is set to welcome the first Trump-branded office complex in India, marking a significant milestone in the country's real estate market. This ambitious project, known as Trump World Center, is expected to bring a new level of luxury and prestige to th