Greater Mohali Area Development Authority (GMADA) has issued letters of intent (LOIs) to the 13 housing societies. GMADA has fixed Rs 12,000 per square yard as allotment rate, which is six times more than the Rs 2,000 per square yard allotment price. In the case of cooperative societies, since no LOI was issued at the time of allotment, the rates were required to be fixed before issuing letters of intent to the allottees.
The Societies will deposit the remaining allotment price at the new rate within 90 days of receipt of the LOIs. The work to undertake development works in the earmarked area and demarcate the land allotted to each society was in progress.
The societies had been waiting for possession of the allotted land after
Punjab Urban Planning and Development Authority (PUDA) Finance and Accounts Committee had on February 13, 2004, approved the names of 13 cooperative house building societies for allotment of sites in Sectors 76, 79 and 80 after inviting the applications in 2003,
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