MOHALI/CHANDIGARH , Jan 17 —To revive investor interest, GMADA has decided to convert large commercial “chunk” sites in Mohali’s Sector 62 into Mixed Land Use (MLU) zones. The shift comes after the authority’s previous attempts to auction these sites for purely commercial purposes failed to attract buyers due to high reserve prices and stiff competition from Aerocity and IT City.
The new framework applies to several significant land parcels in the PUDA Bhawan area, including a 27.77-acre cluster and a 12.92-acre site. Unlike restricted commercial plots, the MLU designation permits a dynamic range of activities, including housing, cultural centers, and office complexes alongside retail spaces.
“Purely commercial sites have limited flexibility, which increases costs and reduces competitiveness,” a senior GMADA officer noted. He directly said that mixed land use makes the same land more viable, ensuring better returns and broader interest from the investment community.
The authority mentioned that Sector 62 has reached a saturation point regarding conventional malls and shopping complexes. While the reserve prices for MLU sites remain at par with commercial rates, the added flexibility is expected to safeguard the authority’s financial interests by attracting more diversified projects.
Experts in urban development believe this strategy will provide fresh momentum to construction activity in Mohali. They noted that the move creates a healthier balance between living and working spaces, ultimately making Sector 62 a more competitive and future-ready urban center.
