GLADA bags all time high real estate rate in North India

Ludhiana, Nov 21 (UNI) Belying the impression of a downward trend in the real estate rates in Punjab, Greater Ludhiana Area Development Authority (GLADA) has fetched, an all time high rate per sq yard of a big commercial property in North India, when it succeeded in auctioning a commercial property measuring 5107 sq yds at the rate of Rs 1,51,000 per sq yd.

The auction fetched total amount of Rs 77.11 crore. The reserve price of the property was fixed at Rs 75,000 per sq yard, with total value of Rs 38 crore.

GLADA chief administrator Vikas Partap said that it was evident from this high rate of auction that the big investors from all over the country were evincing a keen interest in making big investments in Punjab.

UNI