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- Originally Posted by MANOJaWhat about the clause that only residents of Punjab can apply ? Is something similar going to be there ?
It's almost a certainty that domicile would be required.CommentQuote0Flag
- Originally Posted by gurdialMost likely in Aug.
Bai ji, still no news abt this ?CommentQuote0Flag
- Originally Posted by Gagan SinghBai ji, still no news abt this ?
Early September, they have all issues sorted out now. Just working out the details. Met the Estate officer today, he says this would be a gold mine for the luck ones who get it. Great for premium play and also long term hold.CommentQuote0Flag
- Originally Posted by gurdialEarly September, they have all issues sorted out now. Just working out the details. Met the Estate officer today, he says this would be a gold mine for the luck ones who get it. Great for premium play and also long term hold.
Thanks for the update bai ji, I hope I would be the lucky one this time. ;-)CommentQuote0Flag
- UT folks can apply for Mullanpur Estate
The Punjab government has decided to restrict Mullanpur Urban Estate, Phase 1, to Punjab and Chandigarh residents only. Under the scheme, the Greater Mohali Development Authority (GMADA) will offer freehold residential plots of various sizes in Mullanpur, located 7 km from Post Graduate Institute of Medical Education and Research (PGIMER), Chandigarh.
The tentative dates of the project had also been decided with the offer opening on September 2 and closing on October 18. The draw of lots will take place a month after the closing of the scheme on November 18 at the PUDA Bhavan.
The number of plots have also been reduced from the original 2,704 to under 1,000 as most of the farmers have opted for the land-pooling scheme. It may disappoint prospective applicants as the area is located very close to Chandigarh, with the Shivalik Hills in the vicinity.
The plot sizes that will be offered to applicants are 100, 200, 300, 400, 500 and 1,000 square yards. An applicant can apply for any either of the categories.
Also, the rates are expected to be higher than those of Aerocity project and are expected to be in the range of Rs 16,000 per square yard.
Punjab NRIs can apply too.
People who have residential proof of Punjab but are settled abroad too are expected to apply for the scheme in large numbers, considering its location in the vicinity of Chandigarh.
Not be considered eligible
People who already own a plot or flat developed by the Punjab and Chandigarh’s government agencies will not be considered eligible under the scheme.CommentQuote0Flag
- Mullanpur Urban Estate - GMADA
Mullanpur Urban Estate Proposed RatesCommentQuote0Flag
- Plot sizes and prices - Updated News
Mullanpur Scheme Plot sizes and prices - Updated NewsCommentQuote0Flag
- The article says , you can aplly online also. But I do not see any link for this on GMADA website. One question to all experts. If you want to know latest information from GMADA, what is the best source. I dont think they regularly update the website.
Second, is there any other forum or blogging site related to property in tricity region.
Your help is appreciated. I am new to this field and I want to buy one good property for residential purpose but property seems too costly everywhere :-(.CommentQuote0Flag
- Dear friend scheme has not been launched yet as discussed.May be when it will formally launched you will be able to submit your application through their site also.:)CommentQuote0Flag
- Realty Developers In Chandigarh Using Dealers To Jack Up Prices
ost real estate developers in the region are now launching their projects through dealers appointed by them. Even before the project is formally launched by the company, most of these dealers, manage to ‘sell’ the project, by hype and word-of mouth promotion. This ensures that the cost of each plot/ apartment/ house is also increased substantially, thereby creating an artificial boom in the market. Sources say that that this practice ensures that by the time the real estate developer formally launches the project, prices rise 20-30 per cent. Since most often, it is the dealers themselves who have picked up the property in the ‘pre-launch’ phase, they end up making a neat profit. On each unit (plot/ apartment/ house) sold, the dealers also get a commission (varying between 1.5- 2 per cent) from the real estate developer. Since the dealer is doing the whole ‘pep-talk’ with the buyer, the real estate developer simply pockets the profit and wash their hands off the dealers.
By creating this demand, dealers also lure customers by offering assured allotment and seek complete down-payment of the unit being bought. The developer thus makes profit within days. Almost all companies who have launched their projects in Mohali, Ludhiana, Amritsar and Panchkula have taken this ‘dealer’ route to ensure complete success of their project.
A similar scheme has come up on the fringes of the northern sectors in Chandigarh. Though this project, by the leading real estate developer in the country, is yet to be launched, it has already helped generate hundreds of crores - all accounted for-from investors wanting to get a plot here. Investors are being lured by dealers on promises of assured allotment, in case they make a down payment ( Rs 94 lakh to Rs 1.25 crore for 350 sq yard and 500 sq yard plots) within 45 days. This, when nobody knows the criteria for allotment.
“There is urgent need to have some kind of regulation on the way these builders are creating an artificial boom. Property rates are hiked by these dealers and the customer fails to get a decent accommodation as the rates are beyond their reach,” said a Chandigarh-based real estate agent.
- Thanks to expert for the reply. Still I did not get the information where I could get the latest information related GMADA. I think better check this forum for latest updates. Exoerts are active here and you get latest information :-)CommentQuote0Flag
- In 18 months, Mullanpur rates spike 90% from Urban Estate, Medicity
Punjab’s proposed Medicity and Urban Estate have catapulted Mullanpur, now touted as New Chandigarh, into top gear where residential properties in the tricity are concerned. Within 18 months, property prices of plots launched by realty majors have upped by 90 per cent in Mullanpur. The once sleepy village is now a hot destination for investors.
This is evident not just from the attitude taken by private players but also the state’s urban development body manning development here — Greater Mohali Area Development Authority (GMADA). GMADA has fixed its rates for the Urban Estate here considerably higher than those fixed for its Aerocity project last year.
For Aerocity, GMADA had a single rate of Rs 12,000 per square yard (Rs 3 lakh a marla) for all sizes of plots. At Urban Estate Mullanpur, for the first time the state has introduced varying price slabs. For plots measuring 100 square yards (4 marla) and 200 square yards (8 marla), the price has been fixed at Rs 17,000 per square yard. For plots measuring 300 square yards (12 marla) and 400 square yards (16 marla), the price stands at Rs 18,000 per square yard.
In the topmost category, for plots measuring 500 square yards (1 kanal) and 1,000 square yards (2 kanal), GMADA’s price is Rs 19,000 per square yard. On account of its land-pooling scheme for former land-owners here, only 850 out of the total 2,700 plots may be offered by GMADA to the general public in the upcoming scheme.
While the Urban Estate at Mullanpur is GMADA’s most expensive project to date, the rates here are still about 35 per cent lower than those fixed by the leading private players here. In March this year, realty major DLF launched the first phase of its project at Mullanpur with 800 residential plots, priced at Rs 25,500 per square yard.
DLF Executive Director (North) Rahul Mehta said the company received 20 times more applications than the number of plots. Mehta said the plots measured 350 and 500 square yards, and sold out in two days.
The other big player at Mullanpur is Omaxe. In its project in January 2010, the company offered 400 residential plots, at the rate of Rs 13,300 per square yard. The second phase of Omaxe came in December 2010 with 600 plots. The scheme opened with plots priced at Rs 18,000 per square yard and closed at Rs 20,000 per square yar, an increase of 35 to 50 per cent over the first phase.
And now Omaxe has launched its third phase with plots priced at Rs 24,990, an 88 per cent rise. Both Omaxe and DLF are coming up with integrated townships, offering flats, villas, plots. Smaller players are giving plots in the range of Rs 14,000- 22,000 per square yard.CommentQuote0Flag
- I wonder what makes the rate goes so high, is it investers or the builders that make such news.
Where is the end customer?CommentQuote0Flag
- Mullanpur Urban Estate - GMADA - Eligibility Criteria
Mullanpur UEstate - Eligibility CriteriaCommentQuote0Flag