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The Greater Mohali Area Development Authority (GMADA) has released a new policy for the allotment of Shop-Cum-Office (SCO) sites and Clustered SCOs in Aerocity, SAS Nagar. The move aims to streamline commercial development in the township through e-auction, ensuring transparency and wider participation.

Aerocity is a 1,000-acre township located near Chandigarh International Airport and Mohali’s IT City. It was designed to accommodate the region’s growing population with a mix of residential, commercial, and institutional spaces. With rising demand, GMADA is now opening fresh opportunities for businesses through SCOs of 500 square yards and Clustered SCOs of 2,000 square yards.

The sites will be allotted exclusively through e-auction. SCO plots come with a floor area ratio (FAR) of 1:4, while the Clustered SCOs combine four adjoining sites that may be subdivided into two, three, or four plots, with no individual plot smaller than 500 square yards.

Eligibility requires an upfront deposit of ₹25 lakh for SCOs and ₹1 crore for Clustered SCOs. This amount is refundable or adjustable depending on the outcome of the auction. Successful bidders must pay 10 percent of the total bid amount within five working days of acceptance, along with a two percent cancer cess.

The policy also outlines how the remaining 90 percent balance can be paid. For SCOs, allottees can either pay 75 percent upfront with a 15 percent rebate or opt for 12 quarterly instalments with 12 percent annual interest. For Clustered SCOs, the balance must be paid in a lump sum within 90 days, also with a 15 percent rebate. This period may be extended by 30 days with interest at 12 percent.

Possession of SCO sites will be handed over within 15 days of depositing 75 percent of the price plus the cess. For Clustered SCOs, possession will follow within 15 days of full payment.

To attract investors, the policy offers significant incentives. Bidders can secure allotment by paying just 10 percent of the bid amount initially. A 15 percent discount on the balance is available for lump sum payments made within 90 to 120 days. Authorities emphasized that these rebates are meant to encourage timely payments and faster project execution.

Important notes have also been issued for bidders. Participation requires OTP or DSC-based verification, and GPS-enabled devices must be used. Payments through NEFT or RTGS should be initiated at least 24 hours before the closing time to avoid delays in reconciliation. Any changes, corrigenda, or extensions will be announced only on the official e-auction portal.

The new rules also tighten conditions on defaulters. Promoters or developers who have defaulted on more than two instalments in previous projects will not be allowed to participate. In addition, the policy stipulates penalties for delayed payments, with interest rates rising incrementally for delays of up to one, two, or more years.

The sites will be governed by the Punjab Urban Planning and Development Building Rules, 2021. Construction must begin within three years for SCOs and within five years for Clustered SCOs. Partial occupation certificates may be granted for one storey in SCOs and two storeys in Clustered SCOs to avoid non-construction charges.

The policy also permits joint bidding and allows SCO allottees to transfer sites before final instalments are due, subject to approval and fees. Clustered SCOs, however, can only be transferred after full payment and execution of a conveyance deed.

Commercial activity in Aerocity is seen as vital to Mohali’s growth. Analysts say that the Mohali real estate e auction for SCOs will play a key role in shaping the business landscape around the airport and IT City corridor. The rebate structure, clear timelines, and transparent bidding are expected to encourage both small investors and large developers.

Officials noted that in case allotments are not possible due to unforeseen reasons, refunds will be issued within six months without interest, and with six percent annual interest if delayed further.

The allotment policy marks another step in GMADA’s push to establish Aerocity as a modern commercial hub. With demand from retail, corporate, and institutional users, the initiative is expected to generate strong interest in Mohali’s property market during the auction window.