He said, “The auction is scheduled to be held on Feburary 8 at PUDA Bhawan, Sector 62, Mohali. The site has attracted enquiries from real estate investors such as Reliance Industries, Omaxe, DLF, Indian Tabacco Company, Housing and Urban Development Corporation of India (HUDCO), Ansals, Arean Group and Unitech. In view of the feedback, the main attraction for the prospective bidders has been the location of the land on the border of Chandigarh. The site will enjoy infrastructure facilities available in both Chandigarh and Mohali. The site is surrounded by a population of more than 20,000 families of upper, middle and high income groups.”

The buyer will have the freedom to develop multiplex, shopping mall, hotel, service apartments or anything except industry. The reserve price of the site has been announced as Rs 1 lakh per square yard, said GMADA spokesman.

He further added, “The proposed international airport, railway station, international cricket stadium, IT cluster, Knowledge City and proposed golf course are all located within 3 to 5 km of the site. The site juts into Sector 49 with 100-feet roads on two sides.”

The spokesman said the major attraction for the bidders is the size of the land that is 46,464 square yard, so far largest ever available land for auction in Chandigarh and Mohali. Building controls offered for the site have been yet another attraction for the prospective bidders. The site offers 1:3 FAR, 45 per cent ground coverage and maximum permissible height is 40 metres.