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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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  • #71

    #71

    Re : GMADA Residential plots, Mullanpur, Chandigarh

    Thanks for replying, but do post, as soon as u get some clarity on this .

    Originally posted by gurdial View Post
    Manoja ji,

    There is no clarity on this. Will only know for sure once we get our hands on the form.
    Please read IREF rules | FAQ's

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    • #72

      #72

      Re : GMADA Residential plots, Mullanpur, Chandigarh

      Sanjay khanna ji,

      All they have disclosed it that around 40% of the plots would be in the reserved categories.

      gurudev,

      Absolutely right, this will just drive up prices in the secondary market. DLF, Omaxe and co will make sure that prices rocket so that they can sell their upcoming phases at much higher rates.

      richhaah,

      1. Not sure about online option, there was talk about it but they have been silent on it recently. If they do have it, you will have to deposit the money in the designated banks and fill the challan number in the form.

      2. As of now they are launching the scheme on 21th. You will get atleast a month to submit the form.

      Comment

      • #73

        #73

        Re : GMADA Residential plots, Mullanpur, Chandigarh

        Originally posted by MANOJa View Post
        Thanks for replying, but do post, as soon as u get some clarity on this .
        Sure will keep you posted.

        Comment

        • #74

          #74

          Re : GMADA Residential plots, Mullanpur, Chandigarh

          Single payment plan for Eco City to hit prospective buyers

          -95 pc of plot cost to be paid within 90 days of paying earnest money

          -Property dealers and prospective buyers are yet to fully recover from the initial shock of reduced number of plots in the Greater Mohali Area Development Authority’s (GMADA) much anticipated residential project ‘Eco City’ in Mullanpur and the authority decided to deal them another blow. The authority has decided that a person has to pay 95 per cent of the total cost of a plot within 90 days.

          -An applicant has to deposit 10 per cent earnest money at the time of applying.

          -Balance 85 per cent will have to paid within three months.

          -An applicant will have to deposit the remaining 5 per cent money at the time of taking possession.

          -According to GMADA officials, the decision on the mode of payment aims at minimising speculation and attracting genuine buyers.

          -The applicants will end up losing interest on his money and will also not be able to build a house on their plots as it will be some time before they get possession. The Aerocity project had three payment plans depending to the speed of payment which the applicant chose.


          -"The end user knows that he has to make the payment within three months and so the speculation is less. This mode of payment will further reduce the paperwork of GMADA as previously the process of payments continued for years,” said Kaur.

          -The project will have a total of 740 plots. Out of this 41 per cent (303 plots) will be reserved and 437 plots will available for the general public.

          -The authorities have also decided that 20 per cent of the plots will go under the hammer. The auction can be expected to be held in October or November.

          -The scheme will open on September 21 and close on October 21. The draw of lots will be held on November 30.

          -Prospective buyers can buy a application form from the 12 banks authorised by GMADA and can also apply online.

          -A person does not need to submit any proof at the time of applying. One will have to submit residential proof of five years in order to be eligible for the project at a later date.

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          • #75

            #75

            Re : GMADA Residential plots, Mullanpur, Chandigarh

            Its completely unfair to block other Indian Nationals from applying. Imagine other areas like Noida restricting only to UP residents and Gurgaon only to Haryana residents?
            SBS

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            • #76

              #76

              Re : GMADA Residential plots, Mullanpur, Chandigarh

              I agree it’s unfair to restrict Indian residents to participate in a Government scheme? There must be other ways as well to control the malpractices and greediness in property deals.

              Comment

              • #77

                #77

                Re : GMADA Residential plots, Mullanpur, Chandigarh

                I totally agreed that Govt. scheme should be available to all Indians irrespective of which state they belong to.

                Here I have one question is it possible to resale/transfer the plot to non-punjabi in future?

                If yes then at least someone who is non punjabi can purchase in resale.

                Thanks,
                Krishan

                Comment

                • #78

                  #78

                  Re : GMADA Residential plots, Mullanpur, Chandigarh

                  Yes, good question, but i suppose GMADA will not have any control on the resale, like any A,B,C or D from anywhere would be able to buy in resale .
                  Originally posted by krishan View Post
                  I totally agreed that Govt. scheme should be available to all Indians irrespective of which state they belong to.

                  Here I have one question is it possible to resale/transfer the plot to non-punjabi in future?

                  If yes then at least someone who is non punjabi can purchase in resale.

                  Thanks,
                  Krishan
                  Please read IREF rules | FAQ's

                  Comment

                  • #79

                    #79

                    Re : GMADA Residential plots, Mullanpur, Chandigarh

                    Originally posted by krishan View Post
                    I totally agreed that Govt. scheme should be available to all Indians irrespective of which state they belong to.

                    Here I have one question is it possible to resale/transfer the plot to non-punjabi in future?

                    If yes then at least someone who is non punjabi can purchase in resale.

                    Thanks,
                    Krishan
                    Even GMADA is not that dumb to impose such a condition.

                    Comment

                    • #80

                      #80

                      Re : GMADA Residential plots, Mullanpur, Chandigarh

                      Originally posted by gurdial View Post
                      Even GMADA is not that dumb to impose such a condition.
                      Thanks for clarification, but still this is required to clear from actual sources rather than based on only our own thinking.

                      Thanks,
                      Krishan

                      Comment

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