Eco City leaves Aerocity behind:1.25 lakh applications received

The Mullanpur Eco City is all set to break the record of Aerocity. With applications for plots in Eco City closing today, around 1.25 lakh applications were received for 840 plots by various authorised banks, said sources in GMADA. In addition, around 3,500 applicants have applied online. GMADA had received around three lakh applications for 4,000 plots in Aerocity. “Compared to Aerocity, Eco City has broken the record even though stringent eligibility conditions had been enforced this time,” said a senior GMADA official. Around two lakh applications were sold to the banks by GMADA. Till late this evening, the banks were compiling information and are expected to officially convey the figure in a few days. Though officially GMADA officials were tightlipped about the funds generated by the scheme, sources said around Rs 3,500 crore alone had been collected by way of earnest money. The figure could go up after all the information pertaining to the money collected as earnest money is provided to GMADA. The scheme had opened for one month from September 21 and was extended to October 25. This time GMADA has announced that it will hold the draw of lots within one month of the closing of the scheme. The draw would be held on November 30. Accordingly, GMADA would be refunding the earnest money within a few days from the date of the draw. This time around, GMADA officials have been particular about mentioning the date-wise schedule of the entire process. The banks should have no problem in refunding the earnest money to applicants soon after the money is credited back in their accounts. Part of the Dream Weave Walk Network 1998-2012