Punjab Slashes Reserve Prices by 22% for Gmada Properties
MOHALI: In a significant move to monetize stalled public assets and rekindle buyer interest, the Punjab government has sanctioned a notable reduction in the reserve prices for properties listed by the Greater Mohali Area Development Authority (Gmada) that have failed to attract buyers over the years. The new policy indicates an average drop of 22% in the reserve prices for these unsold properties, a change anticipated to generate revenues between Rs 5,000 crore and Rs 10,000 crore. The announcement, made by Finance Minister Harpal Singh Cheema, followed the establishment of a committee tasked with evaluating government-owned properties that remained unsold…