Mohali, March 8 -- Demand for land in Mohali appears to be intensifying, with a 145-square-yard plot in Sector 68 selling for a whopping Rs.4 crore - almost four times its reserve price of Rs.1.1 crore - in the latest e-auction conducted by the Greater Mohali Area Development Authority (GMADA). In the last auction in October 2025, a 430-square-yard residential site in the same sector was sold for Rs.8.86 crore, meaning a plot nearly three times larger fetched only a little more than double the price. The strong surge in Mohali's real estate market was reflected across the auction that ended on Friday, with the authority earning Rs.3,136.97 crore from the sale of 37 of the 42 sites put up on offer - about 55% higher than the cumulative reserve price of Rs.2,018.84 crore. Compared to just 72 (44%) of 162 properties finding takers in the last auction in October 2025, this time 88% of the properties were sold, indicating heightened investor interest in the city. The properties auctioned included residential plots, industrial plots, and hospital, school, mixed land use, hotel and group housing sites across key locations in the GMADA region. Only five sites remained unsold as they failed to attract bids. Among the various categories, mixed land use sites generated the highest revenue. Four such sites, spread across Sector 62 and Sector 68, fetched Rs.1,474.01 crore against a reserve price of Rs.1,120.74 crore. Two group housing plots in Aerocity's Block G attracted bids worth Rs.453.01 crore compared to their reserve price of Rs.338.26 crore. The largest parcel, spanning 6.19 acres, fetched a staggering Rs.311 crore. The demand for institutional and healthcare infrastructure also remained high. Two educational or institutional sites were sold for Rs.346.86 crore against a reserve price of Rs.211.18 crore. A 20-acre land parcel in Sector 83 Alpha fetched Rs.238 crore, while three hospital sites together brought in Rs.327.27 crore against a reserve price of Rs.96.75 crore. Industrial and hospitality segments also saw competitive bidding. Four IT industrial sites in Sector 101 fetched Rs.286.48 crore against a reserve price of Rs.96.66 crore. Two hotel sites were sold for Rs.172.21 crore against base value of Rs.133.68 crore, including a 2.5-acre hotel site in IT City Sector 66 that fetched Rs.91 crore. Smaller commercial properties also drew significant interest. Twelve booth sites fetched Rs.21.49 crore against a reserve price of Rs.8.48 crore. In the residential segment, seven plots were sold for Rs.25.01 crore against a reserve price of Rs.7.64 crore. A senior GMADA official said, "With infrastructure projects, IT hubs and better connectivity coming up rapidly, the city is witnessing growing investor interest. The successful auction shows that Mohali is emerging as one of the most attractive real estate destinations in the region." Pardeep Bansal, owner of HLP Galeria, who also bought a 6.19-acre land parcel for a housing society in Aerocity Block G for Rs.311 crore, said, "Mohali is developing on the lines of Gurugram. Big investors are seeing the future potential of the city and are investing in hotels, hospitals and housing projects. We aim to bring five-star facilities to the city."...