Mohali, June 17 — In a landmark development, a 500-square yard industrial plot in Mohali fetched an unprecedented ₹1.65 lakh per square yard — amounting to ₹8.25 crore — during an e-auction held by the Punjab State Industries and Export Corporation (PSIEC), which concluded today.
This is the highest-ever rate recorded for industrial land in the region, with pre-auction estimates valuing similar plots between ₹3.50 crore and ₹4.50 crore.
The PSIEC’s industrial plot auction, conducted after a gap of over two years, drew intense bidding for plots in Mohali. Property dealers and industrialists attribute the spike to high demand and a limited supply of approved industrial plots. “Mohali has outgrown its image as Chandigarh’s satellite town,” said Dilpreet Singh Boparai, General Secretary, Mohali Industries Association. “The soaring rates reflect the urgent need for a dedicated land bank to develop new industrial pockets near Mohali.”
According to sources, 500-square yard plots were auctioned at rates ranging between ₹1.50 lakh and ₹1.65 lakh per square yard. The reserve prices were set between ₹39,000 and ₹42,900 per square yard. To participate, bidders had to pay an eligibility fee of 2% of the reserve price. Successful bidders must now deposit 10% of the total bid as earnest money within five working days.
While Mohali received robust participation, other cities like Ludhiana — Punjab’s industrial capital — saw poor response. Plots in Hi-Tech Valley and on Tajpur Road, Ludhiana, remained largely unsold, with officials calling the interest “lukewarm.”
The e-auctions, which began on May 26, covered over 260 industrial plots ranging from 250 square yards to 7 acres in cities including Abohar, Amritsar, Batala, Goindwal Sahib, Kapurthala, Bathinda, Jalandhar, Mandi Gobindgarh, Pathankot, Raikot, Wazirabad, Nawanshahr, and Nabha (reserved for green industries).
Officials say the high-value bids in Mohali will boost the state’s industrial appeal and generate much-needed revenue.
