GMADA has big plans in Mohali sector 88

Mohali has been striding ahead with planned urban development, but in the new sectors, independent plots are being phased out. Scarcity of land has made the Greater Mohali Area Development Authoritity favour only multi-storey residential towers in the upcoming areas. To meet with the heavy demand for housing in the region, GMADA will launch its new scheme of fifteen-storey flats in sectors 88 and 89 in Mohali. The state is planning to construct about 6,000 flats in high-rise buildings over 100 acres. These Purab Premium Apartments will be made in over 100 towers that are 15 storeys high. The flats will come up in diverse sizes, priced between Rs 43 lakh and Rs 69 lakh. About 4,500 flats will be given through draw of lots, and the rest through auction. For this new housing project, the state has acquired about 200 acres of land from farmers. The land-owners were given the choice of opting for cash compensation of Rs 1.69 crore per acre, or land-pooling in GMADA projects. The last project where GMADA offered 870 plots in different sizes was Eco city at Mullanpur. The allotment prices ranged from Rs 17,000 to Rs 19,000 per square yard, and draw of lots was held in November. Another popular project of GMADA where independent plots were offered was Aerocity. There was heavy demand for the 4,000 plots allotted here by GMADA last year, at the rate of Rs 12,000 per square yard. In all its projects where plots were offered, GMADA has received a thumping response from buyers. But independent houses do not seem to be on GMADA’s scheme of things now. Part of the Dream Weave Walk Network 1998-2012