Different urban development authorities in Punjab collected Rs 2,945 crore through the e-auction of land parcels for residential and commercial projects, the Punjab government has said. The properties included group housing, multiplex, commercial land, residential plots, shops, and others, according to an official release. The e-auction had concluded on September 16.
In the official release last month, Chief Minister Bhagwant Mann said the e-auction got a massive response from the public especially by those who either wanted to own a residential plot or had plans to start a commercial establishment.
Mann said the result of the e-auctions are a thumbs up for the “investor friendly” policies of the state government. Every single penny received from the e-auctions shall be spent on development projects, he added.
Mann said the successful bidders would be allotted the sites on depositing the 10% payment and possession would be handed over to them on payment of 25 per cent of the total bid amount.
The Chief Minister further said that the result of the e-auction was a thumbs up to the investor-friendly policies of the state government. He added that every single penny received in the e-auctions shall be spent on development projects to provide state-of-the-art amenities to the people.
Bhagwant Mann had also commended the efforts of all officials involved in conducting the e-auctions, adding that each and every one of them performed their duty professionally and with responsibility to ensure that the whole process ran in a smooth and transparent manner.
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