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GMADA Residential plots, Mullanpur, Chandigarh

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GMADA Residential plots, Mullanpur, Chandigarh

Last updated: July 5 2013
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  • Re : GMADA Residential plots, Mullanpur, Chandigarh

    Originally posted by gurdial View Post
    Hopefully, this trend should continue(fingers crossed).
    Hope so

    One of my friends went to see the Mullanpur area. He said that the DLF plots are just next to Chandigarh (About 2-3 Kms from PGI) and on a wide road. Then there is a barrier and narrow road after that and then another barrier. The Eco City is actually after crossing the Mullanpur village. (About 7-8 Kilometers from PGI). He said that you can reach DLF plots very quickly but due to the barriers and then thin road / village it takes time to reached the proposed Eco city site.

    I am wondering if the DLF plots which are just next to Chandigarh are costing 25 - 26 K per sq yard (Correct me if I am wrong but this is the figure I have heard), is the price of Eco city plots at 19,000 justified?

    I mean if it almost near market price then would it be better to go for DLF plots rather than try your luck in a lottery?

    Comment


    • Re : GMADA Residential plots, Mullanpur, Chandigarh

      Originally posted by gurdial View Post
      Hopefully, this trend should continue(fingers crossed).
      Personally I believe Eco city will not see the same kind of Hype as was seen during Aero city times. High interest rates coupled with property market declining 10 - 20 % in Chandigarh should have some effect.

      Also what effects would elections have on the schemes. One of my friends from Patiala scared me by saying that if the government from a different party is formed then they stop all schemes started by last Govt or delay them significantly. Is it true?

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      • Re : GMADA Residential plots, Mullanpur, Chandigarh

        Govt schemes dont get deferred much when the new parties come in because the final signing authority is GMADA not Punjab govt(Some would debate that Head of GMADA is CM but CM can't stop GMADA stuff without distorting the image of its party significantly which they never want). The problems come only with approvals of private builders etc because new govt will demand their share of money as well.

        Thats the main reason of Govt colonies (Aero city / Eco City) commanding much more premium than the private colonizers that they are relatively risk free !!

        Comment


        • Re : GMADA Residential plots, Mullanpur, Chandigarh

          Originally posted by AnkurPune View Post
          Hope so

          One of my friends went to see the Mullanpur area. He said that the DLF plots are just next to Chandigarh (About 2-3 Kms from PGI) and on a wide road. Then there is a barrier and narrow road after that and then another barrier. The Eco City is actually after crossing the Mullanpur village. (About 7-8 Kilometers from PGI). He said that you can reach DLF plots very quickly but due to the barriers and then thin road / village it takes time to reached the proposed Eco city site.

          I am wondering if the DLF plots which are just next to Chandigarh are costing 25 - 26 K per sq yard (Correct me if I am wrong but this is the figure I have heard), is the price of Eco city plots at 19,000 justified?

          I mean if it almost near market price then would it be better to go for DLF plots rather than try your luck in a lottery?
          DLF has acquired a large area in Mullanpur, the plots you are referring to is Phase-1 which is behind Eco city. The land nearer Chandigarh would be sold as phase-3 or 4 and at much higher rate thats what I have been led to believe. Eco city is still available at quite a discount compared to Hyde Park. The map below should point to the location of phase-1.

          Last edited September 22 2011, 12:48 PM.

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          • Re : GMADA Residential plots, Mullanpur, Chandigarh

            Originally posted by AnkurPune View Post
            Personally I believe Eco city will not see the same kind of Hype as was seen during Aero city times. High interest rates coupled with property market declining 10 - 20 % in Chandigarh should have some effect.

            Also what effects would elections have on the schemes. One of my friends from Patiala scared me by saying that if the government from a different party is formed then they stop all schemes started by last Govt or delay them significantly. Is it true?
            Whether Eco city gets a big response or not is immaterial for me. If I`m lucky enough to land a plot, I intend to hold it for the medium to long term. I`m bullish on the area as a whole and done lots of research for the same.

            Change of govt will have little impact on Mullanpur, things have already set in motion. Its not like DLF, Omaxe and other developers will pack their bags and leave if congress comes to power. Picture the area 6-7 years down the line.
            Last edited September 22 2011, 04:14 PM.

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            • Re : GMADA Residential plots, Mullanpur, Chandigarh

              Originally posted by jatinderchd View Post
              Govt schemes dont get deferred much when the new parties come in because the final signing authority is GMADA not Punjab govt(Some would debate that Head of GMADA is CM but CM can't stop GMADA stuff without distorting the image of its party significantly which they never want). The problems come only with approvals of private builders etc because new govt will demand their share of money as well.

              Thats the main reason of Govt colonies (Aero city / Eco City) commanding much more premium than the private colonizers that they are relatively risk free !!
              Originally posted by gurdial View Post
              Whether Eco city gets a big response or not is immaterial for me. If I`m lucky enough to land a plot, I intend to hold it for the medium to long term. I`m bullish on the area as a whole and done lots of research for the same.

              Change of govt will have little impact on Mullanpur, things have already set in motion. Its not like DLF, Omaxe and other developers with pack their bags are leave if congress comes to power. Picture the area 6-7 years down the line.
              Makes sense. Thanks for the clarification. So it would be riskier to invest in DLF rather than Gmada schemes.


              Originally posted by gurdial View Post
              DLF has acquired a large area in Mullanpur, the plots you are referring to is Phase-1 which is behind Eco city. The land nearer Chandigarh would be sold as phase-3 or 4 and at much higher rate thats what I have been led to believe. Eco city is still available at quite a discount compared to Hyde Park. The map below should point to the location of phase-1.

              I am planning to visit the Mullanpur area this weekend and look at it myself. If possible I will try to get a few pics and share it on the forum

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              • Re : GMADA Residential plots, Mullanpur, Chandigarh

                Ankur, dont worry about the DLF/Omaxe case in mullanpur as gurdial has already said that DLF/Omaxe are big enough to pack bags. Its minimal (may it be DLF/Omaxe/Eco city) The delivery would happen for sure. It might be delayed a bit because of lack of infra required to perform development activities there but no one can stop the deliveries. These guys are big enough to feed the new govt appropriately if required be and in that case i can envision even further acceleration of prices.

                For other small private builders in this area, trade with care near the elections. Hope we all remember the case of zirakpur private builder projects when govt changed from Cong to SAD in 2006.

                Mullanpur is just raw fields except a few hoardings of DLF/omaxe here and there and property dealers showing raw fields to people. I can post the pics of raw fields near my place (dara studio / phase 6 mohali) if anyone is interested .. :P
                Last edited September 22 2011, 03:22 PM.

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                • Re : GMADA Residential plots, Mullanpur, Chandigarh

                  Originally posted by jatinderchd View Post
                  Ankur, dont worry about the DLF/Omaxe case in mullanpur as gurdial has already said that DLF/Omaxe are big enough to pack bags. Its minimal (may it be DLF/Omaxe/Eco city) The delivery would happen for sure. It might be delayed a bit because of lack of infra required to perform development activities there but no one can stop the deliveries. These guys are big enough to feed the new govt appropriately if required be and in that case i can envision even further acceleration of prices.

                  For other small private builders in this area, trade with care near the elections. Hope we all remember the case of zirakpur private builder projects when govt changed from Cong to SAD in 2006.
                  I am interested to know what happened to private builders in 2006? (Have started taking interest in property relatively recently)

                  Originally posted by jatinderchd View Post
                  Mullanpur is just raw fields except a few hoardings of DLF/omaxe here and there and property dealers showing raw fields to people. I can post the pics of raw fields near my place (dara studio / phase 6 mohali) if anyone is interested .. :P

                  Still I may go and have a look at the raw fields to get a feel of the area. (I was quite interested in buying a flat in Baddi for investment but changed my decision when I went to the area)

                  Comment


                  • Re : GMADA Residential plots, Mullanpur, Chandigarh

                    Ques on eligibility

                    Friends, please help me determine my eligibility for the Mullanpur plots:

                    I'm and NRI and lived most my life in Chandigarh (Matriculation, Degree from Ropar) but have been away for last 10 years. I however bought a flat in Zirakpur in 2010. Would I be eligible?

                    Or how about my mother who was born in Punjab, did matriculation there and own house in Chd since past 20 years but settled abroad with me and visits India every year. Is she eligible?

                    Tks!

                    Comment


                    • Re : GMADA Residential plots, Mullanpur, Chandigarh

                      Originally posted by bips123 View Post
                      Friends, please help me determine my eligibility for the Mullanpur plots:

                      I'm and NRI and lived most my life in Chandigarh (Matriculation, Degree from Ropar) but have been away for last 10 years. I however bought a flat in Zirakpur in 2010. Would I be eligible?

                      Or how about my mother who was born in Punjab, did matriculation there and own house in Chd since past 20 years but settled abroad with me and visits India every year. Is she eligible?

                      Tks!
                      Both of you are clearly eligible. Happy investing.

                      Comment

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