gurdial

At full throttle-Mullanpur

-THE scenic environs of the Shivalik foothills on the northwestern periphery of Chandigarh have become the hottest realty hunting ground for investors and realtors alike.

-While opening of bookings for GMADA's Eco City plots in the Mullanpur area has created a flutter of hope among investors, on ground the area is buzzing with activity with the major real estate developers like DLF and Omaxe, who have a sizable presence here, and some housing societies starting the development work on their sites.

-A visit to the area reveals deployment of workforce and heavy earth-moving machinery at the various project sites. These include the DLF project and Chandigarh Extension township and a commercial tower from Omaxe.

-"Omaxe is almost ready to carry out the handing over process of its plots and the construction work on the independent floors is in full swing", said a company spokesperson.

- Apart from the scenic beauty, proximity to Chandigarh is one of the biggest selling points of the area, which developers as well as investors have been cashing in on.

-Being projected as a modern-day avatar of Chandigarh, the Mullanpur area, which is being developed under a master plan approved in 2008, promises to have state-of-the-art health village, knowledge village and eco-tourism related activities.

-The township will also have a slew of recreational facilities like amusement park, spa village, open-air theatres, theme parks and lifestyle hub, and sports facilities.

-All mega projects coming up in the area will adhere to the master plan norms proposed by the consultants to the project, the Singapore based Jurong International.

-Talking about the immense growth potential here Gujral says that DLF has pegged Mullanpur as its second important destination after Gurgaon. "This area is going to grow hugely and we are here on a long-term commitment. Our aim is to work on an economic model simultaneously as we plan to invite companies to set base here and create more jobs like we did in Gurgaon so that there is holistic development in the area rather than it just becoming a dormitory town of Chandigarh", he adds.

-With high end projects promising a quality lifestyle, HNI's from the region have been quick to ink deals and so have been the investors looking for handsome returns in the next three-four years.

- B.K. Sanghi, a city-based developer says the GMADA project may well be the last of the government projects in the region as with the new Land Acquisition Bill it may not be possible for the government to float more such schemes.

-The prices have been appreciating here steadily over the past few months. Property consultants say the investors in the Hyde Park Estate have already benefited by almost Rs 4,000 per sq. yard since its launch about six months back. A limited number of more such plots in Hyde Park Estate may be offered soon, they add.

Investment boosters

* The proposed metro project envisages to connect up to New Chandigarh. This will help build connectivity to planned projects in the area.

* A new cricket stadium over an area of 40 acres to replace the PCA Stadium Mohali as a venue for international cricket matches is also to come up in the next two-three years. This will bring the area on the global map.

* Broadening of the existing Chandigarh-Mullanpur-Siswan road has been cleared by the MOEF. This development should happen soon and shall give definite boost to the Master Plan Area (MPA).

* Major road under MPA passing through villages Togan, Teera, Basenpur, Sangala setcor has been decided to be put under Secton 4 of land acquisition.

VIK_13

Unnecessary hype..bs

rishi651

Mullanpur will be the best place to live and prices will keep going up for the next 10 years. Amazing info Gurdial. This is reality about Mullanpur.

gurdial

I have posted a recent Tribune article which has analysed the area in detail. As I have said many time before, Mullanpur is for someone with a long term view ie 5+ years.

Another positive for the area has been that on the insistence of GMADA, Punjab govt has decided to notify the Mullanpur Garibdas municipal committee soon. Hopefully by end Oct it would be notified.

pawang42

hello vik_13
You are absolutely correct,OMAX and DLF merely cashing on GAMADA scheme at mullanpur, there is no reason whatsoever that with zero infrastructure these biggies are manipulating the the prices at that place.It is not going to be aerocity like euphoria after the draw of gamada plots. If someone is interested in that area, can easily get 200 sqyds plot around 19-20000 per sqyds. There is not going to be that much of premium.Moreover, location of eco city is not that good, it is only gamada tag which is creating hype over there.

jatinderchd

I agree to pawang and vik. I just got a message from a broker that DLF is going to launch more plots at 29K per sq yard. Thats like crazy price for raw fields for atleast 5 more years.

VIK_13

rishi651..I guess you have some thick investment in Mullanpur fields, it may be a worthy investment(mother land nvr disappoints) 10yrs down the line bt proclaiming it to be the best place to live in is far from reality.

karanind

Well everything is hyped, ground reality for most of the so called projects is good only on paper.

tarz1309

Just wanted to check if any of the experts have any feedback on potential of SCOs(plots) sold by Omaxe. It think they 125 sq yards & going Rs 63000 per square yard.

Thanks

Tarz

gurdial

Is it sq yard or sq feet ?