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GLADA to Reduce Rates on Unsold Properties in Ludhiana: Valuers Will Revise Rates if No Buyers Are Found at Auction; 5 Sites Have Remained Unsold for Several Years
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The Greater Ludhiana Area Development Authority (GLADA) is preparing to lower the reserve prices of unsold government properties. After repeated e-auctions failed to yield buyers, the authority is reviewing the prices of five sites. Independent registered valuers have been tasked with revaluing the land based on current market rates. GLADA believes that the reserve prices set over the past several years were too high for current market condition…
·Bhopal, India
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