GMADA sells 27.78-acre Sector 62 plot for ₹1,742 crore; auction raises ₹5,391 crore

The Greater Mohali Area Development Authority (GMADA) has sold a 27.78-acre plot in Sector 62, Mohali, for ₹1,742.31 crore, The Tribune reported on 21 August 2026. The reserve price was ₹1,214.16 crore.

Aggarwal Plaza Private Limited quoted the highest amount among six bidders, after 80 bids for Plot Nos. 30–34.

The wider auction

According to the report, 27 of the 37 properties on offer were sold, raising ₹5,391 crore against a combined reserve of ₹3,872 crore. The properties included commercial plots, shop-cum-offices (SCOs), booths and hotel and hospital sites.

The Aerocity hospital site was bought by Onn Warehousing Private Limited and the Sector 66-Beta hotel site by Ameo Media Private Limited. Chunk plots in Aerocity Blocks E, I and J sold only slightly above their reserve prices, the report said.

Context

The Sector 62 parcel was the headline site in GMADA's January 2026 e-auction of 42 sites, when it was listed at a reserve of about ₹1,213.72 crore. The report did not say what the buyer plans to build.

Reading the result

Strong bids for SCOs and the Sector 62 parcel point to continued developer and investor appetite for central Mohali land. Large parcels usually turn into group housing or mixed-use projects; when a project is planned on this site, it must be registered with Punjab RERA before any units are sold.