The State Agricultural Marketing Board, UT, will begin a fresh e-auction of 23 SCO sites at the new mandi in Sector 39 from September 1. This new process comes after the previous auction faced delays in allotment.
SCO sites e-auction details and reserve price increase
The 23 sites, numbered 24 to 46, will be allotted on a leasehold basis. The reserve price has been substantially increased this time, with each 100.23 sq mt (119.874 sq yd) site carrying a reserve price of Rs 5.30 crore. The combined reserve price of all 23 sites is Rs 122.08 crore.
An earnest money deposit (EMD) of Rs 10.61 lakh has been fixed for each site. Corner sites, numbered 24 and 46, will attract an additional 5 per cent charge on top of the reserve price.
Previous auction and what changed
The sites were first offered for e-auction in March 2025, when the reserve price of each was fixed at Rs 3.70 crore. In that previous auction, bids were received for 12 of the 23 sites. However, the allotment process was stalled, leading to this fresh e-auction with revised terms.
The significant jump in reserve price — from Rs 3.70 crore to Rs 5.30 crore per site — marks a clear shift in the board's valuation of these properties. This increase of roughly 43 per cent reflects the board's confidence in the demand for these commercial sites at the new mandi.
What bidders should know before September 1
Interested bidders need to prepare for the higher financial commitment. The EMD of Rs 10.61 lakh per site is a prerequisite to participate in the e-auction process. Those eyeing the corner sites, which are often considered more valuable for visibility and footfall, must factor in the additional 5 per cent charge.
- Each site covers 100.23 sq mt (119.874 sq yd) of area
- All 23 sites are being offered together in the e-auction
- The allotment will be on a leasehold basis, not freehold
- Bidders must deposit Rs 10.61 lakh as EMD per site
Our Take: Higher reserve price signals market confidence
To put it plainly, the board is betting big on these SCO sites. The sharp increase in reserve price — from Rs 3.70 crore to Rs 5.30 crore — is a bold move, especially since the previous auction only drew bids for 12 of the 23 sites. This suggests the board believes the earlier pricing was too low, not that demand was weak.
For potential buyers, this means the entry cost is now significantly higher. The additional charge on corner sites also shows the board is trying to capture the premium value of prime locations. Whether this pricing strategy works will depend on how many serious bidders show up on September 1. If the previous auction's partial response is any indication, the board may need to be prepared for a similar outcome — or it may find that the higher price actually attracts more serious, committed buyers. Either way, this e-auction will be a test of the market's true appetite for commercial space at the Sector 39 mandi.
