Vikas Kohli

Can anyone share views on Greater Mohali Aero City? What are rates in near by locations for Plots? Govt. is looking for 12000 per sq yd.

amol8080

Hi Vikas, in my opinion this is a big no. I personally haven't heard of GMADA. Greater Mohali is a term coined by the builders near Chandigarh and Mohali, just like Noida Ext. This area is atleast 15 kms from actual Mohali. and aprt from this still if you want to go to that area, there are many builders like Ansals who are building independent Villas and Duplex at the lesser rate. Again this will be like Greater Noida. Prices may rise and may not....
This is what my opinion, but at the end this is your decision based on your requirements.

tally120

Dear All,

Can any body throw some light on the pricing by GMADA. At a rate of 12000/ sq yd, is there anything left for an investor. What is the present rate going on there? What are the prospects in 4-5 years? Please advice if it will be worth applying for the project. Also, what are the chances for allotment?

amol8080

Hi tally, I have been to the area and the plot rate there for the builders are ranging from 9K - 15 k. so in my opinion instead of wating for the draw to get any random plot, you can anytime go there and purchase a plot at your desired location. more so if you do not get the allotment then your money is blocked for atleast 4 months. so take your call.

vinaybhatia

I checked their website ( http://www.gmada.org) and it looks like GMADA is a state Govt Managed organization just like HUDA or PUDA.

If that is the case then we can't compare these plots with any Builder plots. One can be assured of proper clearance and infrastructure facilities like Roads, parks, school etc. Resale value of these plots will always be higher than any builder plots, which always carry a risk factor of untimely possession, govt approvals, sudden increase of EDC/IDC changes etc etc.

More thoughts are welcome.

tally120

Dear Amol,

Could you please give the details of the builders providing plots in that area. Also, I tend to agree with Vinay that the govt allotted plots will certainly carry more premium as compared to builder plots. What are the prospects of that area after may be 4-5 years? On analysing the google map of the area, it is evident that it is closer to chandigarh from this area as compared to Panchkula. So I tend to believe that the rates here will also appreciate like Panchkula. What are the views of others Please?

amol8080

Hi tally, 2 names I know are TDI and Ansals. but if you will go to .com and search for the residential land in mohali/chandigarh you will get lot many search results. As far as distance is concerned both Panchkula and Mohali are adjoining Chandigarh, but Panchkula is more developed, as G.Mohali is upcoming.
Yes ofcource authority plots hold more value than builder's plot only thing is that in draw you may or may not get lucky but for builder's plot you go and pay. And if we talk about infrastructure, like road, water etc then I would say that if it will be provided to 1 sector then the adjucent one can also use it.
But finally its always individual's choice....

vinaybhatia

A friend updated me that few farmers have filed a case against GMADA for buying the land at low cost and now making huge profits. They want more share for the land acquired.

Also GMADA is saying that any future increase in land cost ( most likely if farmers win the case) will be passed on to allottee.

Please share if anybody has more updates on this.

umesh_jain

Any further comments from the members.. whether or not we should apply for this?

tgupta

I have applied for this, but seems like scam during allotment...

If anyone have latest news - please share