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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

    No property sale on power of attorney: Supreme Court : North: News India Today

    Given the Supreme Court GPA ruling above can a successful applicant sell his plot for a premium immediately after the draw and payment of 30% of cost?

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    • Re : GMADA Residential plots, Mullanpur, Chandigarh

      GMADA has a proper transfer process . Ofcourse now original seller will have to sign so many POA will not work. Transfer fees is only 1% and transfer can be done after issue of LOI and payment of 30%
      SBS

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      • Re : GMADA Residential plots, Mullanpur, Chandigarh

        Thanks Sbsbpo,

        What i understand is that transfer of LOI has got nothing to do with the GPA process. A successful allottee need not worry about GPA thing.

        Huh!! All this premium stuff would be empty talk had this ruling affected the LOI transfer process as well... what a relief...phew!!

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        • Re : GMADA Residential plots, Mullanpur, Chandigarh

          130 additional plots added to GMADA Eco city

          The Tribune, Chandigarh, India - Chandigarh Stories

          IAF objects to land bordering Medicity
          Rajmeet Singh
          Tribune News Service

          Mohali, October 20
          The Indian Air Force (IAF) has objected to the coming up of the 125-acre Medicity project within the 100-metre radius of the crest of the outer parapet of its Mullanpur Air Force Station, forcing the Greater Mohali Area Development Authority (GMADA) to reduce the area of the prestigious project by around 25 acres.

          The Medicity project is located adjacent to the Mullanpur air force station along the Chandigarh-Siswan-Baddi road. The area loss could include vital installations in the upcoming hospital project.

          The GMADA officials while initiating the land acquisition proceedings under Section 4 of the Land Acquisition Act (LAC) apparently forgot to keep in mind the parameters governing development around the defence installation.

          Realising the faux pas on being objected to by the Air Force authorities, officials of the land acquisition collector were quick to clip down the area of the Medicity from 125 acres to 97 acres. Though GMADA had brought down the area from initial 145 acres to 125 acres, to comply with the norms on defence installation, another 25 acres had to be left out.

          While the Commanding Officer of the air force station could not be contacted for his comments, Chief Administrator of GMADA Saravjit Singh confirmed that the area had been reduced to 97 acres.

          Though GMADA expects the landowners of Ferozepore Jhungia village (Mullanpur), whose land is being acquired for Medicity, to opt for land pooling scheme, a land compensation of Rs 1.50 crores an acre has been already announced by the Cabinet Sub Committee on land acquisition.



          More plots in Mullanpur Eco city
          As a consequence of the area of the Medicity being reduced by 25 acres, the number of plots of different sizes in Mullanpur Eco city (located at a short distance from the Medicity) have increased by another 130. Explaining the logic, sources said the plots under land pooling for the landowners, whose land is being acquired for Medicity, had been reserved in Mullanpur Eco city. As the area under land pooling has been reduced, the numbers of plots in Eco city have automatically gone up.

          Eco city date extended

          The last date for the closing of the scheme has been extended from October 21 to October 25. Officials said the date had been extended keeping in mind the demand coming from persons who have not been able to get the application forms.

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          • Re : GMADA Residential plots, Mullanpur, Chandigarh

            GMADAs Eco City project receives overwhelming response

            GMADA?s Eco City project receives overwhelming response, IBN Live News

            GMADA�s Eco City project receives overwhelming response
            PTI | 08:10 PM,Oct 20,2011
            Chandigarh, Oct 20 (PTI) The much publicised Rs 250 crore housing project of state owned GMADA has received overwhelming response from home seekers as it has sold 1.40 lakh applications so far for just 740 plots to come up near Chandigarh.�We have already sold 1.40 lakh applications so far and we are expecting to sell 20,000 more applications by the time the scheme closes,� a senior official of Greater Mohali Area Development Authority (GMADA) told PTI here today.GMADA, before the launch of housing scheme at Mullanpur, was expecting to sell 70,000 application forms among pubic of Punjab and Chandigarh.Having seen tremendous response to its �Eco City� project, GMADA has decided to extend the date of closure of scheme from October 21 till October 25.GMADA�s housing scheme received great response despite the fact that there were only 740 plots for sale to public.Moreover, people who have been residing in Punjab and Chandigarh for the last five years could only apply for these plots of different sizes including 100, 200, 300, 400 and 500 square yards.Property experts ascribed the main reason behind overwhelming response to the reasonable rates fixed by GMADA for owning the plots.GMADA is offering plots at minimum of Rs 15,000 per square yard to maximum of Rs 19,000 per square yard. However, the current market rate of the plots in Mullanpur stands at Rs 25,000 to Rs 30,000 per square yard, they said.As buying a property in Chandigarh has gone out of reach for most of people due to skyrocketing rates here, the demand for owning a house around Chandigarh has gone up manifold, which has also given a fillip to the interest to �Eco City � project. Declared Mullanpur as �New Chandigarh�, the �Eco City� will be developed in the picturesque backdrop of Shivalik Hills which is 6 km from Chandigarh.GMADA has paid cash compensation of between Rs 1.22 crore and Rs 1.30 crore per acre, one of the highest compensation in the country, for acquiring 420 acres of land from 200 farmers to set up this housing project.

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            • Re : GMADA Residential plots, Mullanpur, Chandigarh

              Good that 130 plots have increased!
              SBS

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              • Re : GMADA Residential plots, Mullanpur, Chandigarh

                Eco City nets Rs 4,500-crore earnest money
                Tribune News Service
                Mohali, October 28
                It is raking moolah for the Greater Mohali Area Development Authority (GMADA) as the Mullanpur Eco City is believed to have netted around Rs 4,500 crore as earnest money from around 1.25 lakh applications received at various banks authorised to collect application forms.
                Though officially GMADA officials stated that the earnest money collected by the banks was being daily crediteed in the authority’s account in phases, sources said the maximum applications had been received for 100 sq yard and 200 sq yard plots.
                By rough estimates, the number of applications varied between 1.25 lakh and 1.50 lakh as many applications were received in the last five days. Another 3,700 persons had applied online.
                The response for Eco City, with around 1.25 lakh applications against 840 plots, was much more than 3 lakh applications received by GMADA for 4,000 plots at Aerocity.
                Compared to Aerocity, where any Indian citizen could apply, only Punjab and Chandigarh residents were eligible to apply at Eco City.
                SBS

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                • Re : GMADA Residential plots, Mullanpur, Chandigarh

                  Given the large amount of 3lakhs per person (4500 crore / 1.5 lakhs applications) it appears the average plot size is 200 sq yard - means lots of people have also applied in the 400/500 sq yard to balance high applications in 100 sq yard
                  SBS

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                  • Re : GMADA Residential plots, Mullanpur, Chandigarh

                    Nice observastion! May be for every four applications for 100 sq yards, one application for 500 sq yards

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                    • Re : GMADA Residential plots, Mullanpur, Chandigarh

                      nice eye you have got.........

                      Originally posted by sbsbpo View Post
                      Given the large amount of 3lakhs per person (4500 crore / 1.5 lakhs applications) it appears the average plot size is 200 sq yard - means lots of people have also applied in the 400/500 sq yard to balance high applications in 100 sq yard


                      hello dear..
                      what wil be the approximate premium,if any?

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