740-plot phase I of the Mullanpur urban estate will be floated on September 21 and applicants will be given a month to apply under the scheme. The site is located 7 km from the PGI in Chandigarh.
For the first time, applications will also be received online. The draw of lots will be held on November 30. The letter of intent will be issued within a month of the draw of lots.
Allottees will be given 120 days from the date of draw of lots to deposit 95 per cent of the cost of the plot, a decision taken to keep speculators out.
To solve the problem of finance, GMADA is contemplating a tripartite agreement between banks, GMADA and allottees so that the cost can be paid within the period specified.
The limit the schedule of payment of 95 per cent of plot cost is four months, between December, 2011, and March, 2012, from the date of draw of lots.
The letter of allotment would be issued once the 95 per cent of the cost was paid.
Part of the Dream Weave Walk Network 1998-2012