Greater Mohali Area Development Authority (GMADA) projects like the Rs 300-crore golf range in Sector 55 under public-private partnership model, convention centre cum five-star hotel, sports complex in Sector 59, IT tower in Sector 67, Rs 45-crore EWS housing project in sector 57 and 66 and working women hostel cum old age home in Sector 68, two community centres in Sector 67 and 69 and a swimming pool ran into hurdles.Likewise, the boom in real estate sector in Mohali, Kharar, Kurali, Zirakpur, Derabassi and Lalru wilted under meltdown, with buyers shying away from the market. In the gloomy scenario, there was some ray of hope from NRIs, but this too failed to boost the market. At a time when the market was witnessing a slump, GMADA dared to sell residential and commercial properties, but the poor response forced it to stop the auction.
The district business centre is planned for Mohali, but GMADA has yet to auction around 140 hectares of land in the Sector-62 city centre project site. Greater Mohali Area Development Authority decided to decouple the high-end housing and golf range project as slowdown impacted the realty sector, making the project unviable. The Institute of Hotel Management (IHM) project at Boothgarh in Mohali coming up on 6 acres land failed to get bidders. Even re-inviting of bids failed to make any difference.
Punjab government is planning to set up a diplomatic enclave in Mohali where countries with a large Punjabi population will be offered space to set up their diplomatic missions. The state government would designate an area where consulates could be set up on the pattern of Delhi.Punjab government has decided to develop Mullanpur, located 5 km from Chandigarh, as the next satellite town between Chandigarh and Mohali. Real estate giants are already showing their interest in the area. Mohali is going to see a Aerotropolis city near the International airport. GMADA has decided to acquire around 800 acres for the purpose along the airport-Chhat road under land-pooling scheme.
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