GMADA Invites Applications for allotment of 4000 Residential Plots at Aerocity Mohali

Published: June 4, 2010 at 11:20 AM | Author: Administrator
News Source: THE TIMES OF INDIA - 4 June 2010

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GMADA is coming up with new township project under the name of "Aerocity Mohali" with 1000 acres of max land use development abutting 200-feet wide road connecting Chandigarh International Airport.

Aerocity Mohali is proposed on approximately 1000 acres for Mix-Land-Use development comprising 4000 plots of 125 to 500 sq. yards, sites reserved for Commercial, Institutional, Multi storied flats etc. and this project will be developed in the form of an Independent Integrated Township. Aerocity will come up on both sides of the 200 ft. wide link road connecting International Airport from sector 66-66(A) junction to National Highway-64 near village Chhat. The vision of GMADA to have an airport city (Aerotropolis) near the airport will shape business dynamics and urban development in this century.

IMPORTANT

1. The price for corner plot shall be 5% extra.
2. The price for plot facing park (100% frontage) shall be 5% extra.
3. In case both the above (1 & 2)apply, the price shall be 10% extra.
4. 5% rebate on the price shall be given to applicants under physicaly handicapped category.
5. Reservation of plots for reserved categories shall be maintained as per punjab Government Policy.

TERMS & CONDITIONS

1. 10% of the plot price is to be deposited along with the application.
2. 15 % of the plot price is payable within 30 days from the date of issueof Latter of intent (LOI).
3. 5% price + extraprice (on account of corner or facing park or both + additionalprice, if any) is payable at the time of delivery of possession.
4. 4. Remaining 70% would be payable as per the payment plans given aside (Plan A, B & C).

For more details, please refer to the brouchure.

Size (Sq. Yds.)	Total Plots	Rate per sq.ft.	Earnest Money	Tentative Price
500	650	12,000/-	6,00,000/-	60,00,000/-
400	50	12,000/-	4,80,000/-	48,00,000/-
300	730	12,000/-	3,60,000/-	36,00,000/-
250	520	12,000/-	3,00,000/-	30,00,000/-
200	800	12,000/-	2,40,000/-	24,00,000/-
150	550	12,000/-	1,80,000/-	18,00,000/-
125	700	12,000/-	1,50,000/-	15,00,000/-

NOTE: Number of plots can be increased or decreased at any time at the sole discretion of GMADA.

Payment Plans

• Plan A: If the allottee deposits the balance 70% price in lump sum within 60days of the date of allocation letter/Letter of intent, 10% rebate shall be allowed.
• Plan B: Allotment are entitled to pay 70% of the amount without interest in seven bi-monthly equated installment from the date of issue allocation letter/Letter on Intent.
• Plan C: Allottees are entittled to Pay 70%of the amount along with interest @ 10% p.a. payable half yearly, in 7 half yearly instalments from the date of allocation letter/Letter on Intent.

Note: If an allottes under plans B & C make the payment in lump sum at any time, 5% rebate shall be allowed on the balance outstanding principal amount.

ELIGIBILITY CRITERIA

1. Must be a citizen of India.
2. Must have atlained the age of majority i.e. 18 yearsas on date of submission od application.
3. The applicant himself/herself or any member of his/her family should not own any residential plot/house/flat alloted by any Government Agency at SAS Nagar. This means that the person who has purchased plot/flat/house by way auction or re-sale is eligible for applying the plot in this scheme. The family means husband, wife and minor children (less than 18 years of age).

HOW TO APPLY

Affix a self attested passport size photograph in the application form attached with brouchure and the same should be submitted to any of the banks mentioned below, either in person or by post on or before th closing date. Application should be accompanied with earnest monry in the form of banker’s cheque/pay order/draft in favor of Estate Officer, GMADA, Mohali payable at the station where the application is sought to be submitted. Application found incomplete or defective in any respect or not duly signed by the applicant is liable to be rejected.

NOTICE

Since all the applications are being received in the designated banks, no application should be sent by post or otherwise to GMADA’s office. Such applications will not be included in the draw.

Refund of Earnest Money

Unsuccessful applicants shall be refunded their earnest money within 90 days from the date of draw.

Mohali, Punjab’s buzzing techno city, 2 lakh people, open space & fresh air; That’s what makes Mohali the perfect city future living. Naturally, this meticulously planned City has been showered with attention from leading corporate houses & promonent national builders. Today it boasts of all amenities for modern, luxurious city living: Multiplexes, Shopping Mall, Hotels, Retailing Complexes, & Service Apartments etc. In addition, the PCA stadium is the pride of the city, ranks as it dose amongs the top cricketing Venuse in the world.

The International Character of Mohali has got further strengthened with the government’s decision to upgrade the existing airport. The new international airport will come up on an area measuring 300 acres, & will be equipped with all world-class facilities.

Luxury living at its best, this ultra-modern city is all set to be the commercial hub of punjab, thanks to its strategic location. Close to all the important business destinations in Punjab & next to Chandigarh international Airport, its commercial facilities will attract top business housesfrom across India. Moreover, its 40-feet and 60-feet wide access road for residential pocket, wide enough for lavish living, evenly distributed parks & other facilities in the residential clusters will deliver a fresh definition of new age living. Poised to deliver the best pf both commercial been planned by "JURONG International", the leading town planners & architects from Singapore.

Balbir Singh, PCS
Estate Officer
9417153819

Balwinder Singh, IAS
Additional Chief Adiministrator
0172-2215301, 2213302

GREATER MOHALI AREA DEVEOLOPMENT AUTHORITY
Pude Bhawan, Sector 62
S.A.S. Nagar, Mohali
Punjab - INDIA