Punjab

PUDA to conduct e-auction of properties from today

The Fact News Service
Chandigarh, February 5, 2021

Properties situated in various cities across the state would be available for purchase, as Punjab Urban Planning & Development Authority (PUDA) would be holding the e-auction in the month of February. The e-auction will commence from today, at 9.00 AM, and conclude on February 15, 2021, at 1.00 PM.

An official spokesperson of the PUDA said that the properties on offer include residential plots, SCOs, shops, booths, etc. in prime areas. The sites are located at Ludhiana, Patiala, Jalandhar, Bathinda, Nabha, Kapurthala, Mukerian, Mansa, Abohar, and Malout. This is an opportunity to buy prime properties as the sites put on auction are situated in already developed localities.

He said that possession of the sites shall be handed over to the successful bidders on payment of 25% of the final bid amount and the allottees would be required to deposit the balance payment in installments at an interest rate of 9.5% per annum. Early handover of the sites would enable the allottees to start construction at the earliest and subsequently use the site for the purpose it meant, be it residential or commercial.

Details pertaining to the properties including reserve price, nature, location plans, payment, and other terms & conditions would be hosted on the auction portal www.puda.e-auctions.in before the commencement of the e-auction, he added.

For participating in the e-auction, he informed, the intending bidders shall be required to sign up on the auction portal and obtain a user ID and password. Bidders shall be required to deposit a refundable/adjustable eligibility fee by way of Net Banking/Debit Card/Credit Card/RTGS/NEFT.

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