The Aerocity is located along both sides of the 200-foot-wide road starting from Sector 66-66-A to Chhat village on the Chandigarh-Patiala National Highway-64.
A total of 3,950 Plots, ranging between 125 square yards (5 marla) and 500 square yards (1 kanal), will be allotted through a draw of lots at a reserve price of Rs 12,000 per square yard (Rs 3 lakh per marla).
Applicants to pay advance interest of 6 months; GMADA assures early draw. This scheme is open from 7th June 2010 to 6th July 2010. Banks Offering Loan for GMADA Aerocity Mohali
List of Successful Applications will be uploaded on GMADA Website - www.gmada.org on the same day and also displayed on GMADA Notice Board along with on www.puda.gov.in
Letter Of Intent will be dispatched by Registered Post on the next day after draw of lots on the address given in the application forms. If you do not receive the LOI in 10 days of your being declared the winner in draw of lots - Call 0172-5032698 for help!
Download Aerocity Brochure. If the link is not working, Download it from here. Check out our Related post on GMADA Aerocity Mohali A Scandal or Fair Play?.
Buy and Sell GMADA Plots
Download Plot Wise Applicant List
Probability to Win Plot at GMADA Aerocity
Please Subscribe to our Newsletter, we will display the results here once they are declared. GMADA Official Website.
A total of 3,950 Plots, ranging between 125 square yards (5 marla) and 500 square yards (1 kanal), will be allotted through a draw of lots at a reserve price of Rs 12,000 per square yard (Rs 3 lakh per marla).
Applicants to pay advance interest of 6 months; GMADA assures early draw. This scheme is open from 7th June 2010 to 6th July 2010. Banks Offering Loan for GMADA Aerocity Mohali
Update
List of Successful Applications will be uploaded on GMADA Website - www.gmada.org on the same day and also displayed on GMADA Notice Board along with on www.puda.gov.in
Letter Of Intent will be dispatched by Registered Post on the next day after draw of lots on the address given in the application forms. If you do not receive the LOI in 10 days of your being declared the winner in draw of lots - Call 0172-5032698 for help!
GREATER MOHALI AREA DEVELOPMENT AUTHORITY
Puda Bhavan, Sector 62
SAS Nagar, Mohali
INDIA
Telephone: +91 0172-2215202-204
Download Aerocity Brochure. If the link is not working, Download it from here. Check out our Related post on GMADA Aerocity Mohali A Scandal or Fair Play?.
Please Subscribe to our Newsletter, we will display the results here once they are declared. GMADA Official Website.
thanks
thaku
when will the results come? I heard that the GMADA are planning to let em out by sept 2010?
There is still no confirmed news from GMADA. We will keep you updated with the status.
we hope this draw should be fair and transparent and pls update us with date of draw
Sure. Will definitely do that.
Any idea about tentative date/month of draw?
September 2010 I feel.
Is there any NRI quota ?
You can download the Aerocity Brochure from the link above and check that. We dont think, there is any quota system, rest you can confirm from the brochure.
application forms are not available in Delhi, do they allow web form? which bank in delhi is financing registration money?
application forms are available in Delhi, will they allow web forms, is there any bank in Delhi financing registration money of the scheme?
I believe SBI is doing the financing and in Delhi also it should be available.
is it govt or pvt
Its a Govt Project....GMADA....Greater Mohali Area Devlopment Authority....
rohit; please tell me actual market prize in airocity area(Rs/s mtr).12000 is the GMADA prize.
on front page of application form ,affix photo attested by g/officer where as at enclosure on form, it is self attested.
which one is correct-kartar singh verma navi mumbai
Are foreign citizens, who are also overseas citizens of India and hold a certificate of registration as Overseas Citizens of India ( OCI HOLDERS )eligible to apply for aerocity plots and how do they get their photograph attested from a gazetted officer if applying from abroad.
Yes OCI Citizens are applicable to apply. You may have to send in someone to the GMADA Office to inquire on the photo issue.
Dear Kartar - attach both if you are confused. Take care!
are there any chances of extension of date of applying further from 6th of july, 2010
I do think so. With 2.3 lakh forms already sold, the GMADA will be eying on more sales and might extend the dates.
But be sure not to take the chances.
hi.... can a non resident apply
i stay in mohali at rent and basically i belong to gujarat state...
can i apply for the plots
pls update
Yes you can!
OCI Card holers are NOT eligible. They are not Indian Citizens. Those who are Indian Citizens can apply. if apply for Reserve Cat then Domicile of Punjab needed.
pls advise if im staying outside india
can i send my folks to apply on my behalf
does it have any tax issues if u transfer money from NRE
incase 2/3 plots come out can we flog it
what is market price in the smae area rite now
thanks
HI. I am Australian citizen. I am an OCI holder of india. Can i apply for the plots or not..
Gmada said no extension beyond 6th Juky.. appox 4 lakh applications will be sold. So its now really an lottery, with Riot victims quota added 36% is reserved and only 2560 plots in GC now.
that surely is sad news :(
i read some where this scheme draw in july last week or august 1st week is't possible
Sir,
In the case of lottreis, Punjab govt can take out draw every half an hour. But here its taking six long months to take out a draw. In this era of computer technology, draw can be taken out within a month or two. Here banks and GMADA are reaping profits on publics genuine needs.At Bangaluru Vidhan Sabha its written " Govt Job is doing Gods job". But here Govt is not doing Gods Job. Here govt mints money from parking to rehabilation issues.Punjabis are supposed to be exemplary people and must lead in doing good things.
G S GILL
LUDHIANA
Very true Mr. Gill - Very true!
what is the procedure to cancel the submitted form at bank , before the draw date . can i get the money back , or any other helping way which may help further. i need to cancel , as i am relocated in Bangalore by company, so i will have to invest my money there. please suggest me some way.
thank you
Yes you can get a refund but after a cut of the interest.
Please contact GMADA or preferably the Bank.
gill 22 g 100 pc correct
Hi. is there any surety that it will be a geniun lottery without any manuplation? because we all know what level of corruption is there in our indian system. can any one answer?
Thanks
Sumit Dhiman
Dubai
hi,
is it possible to fill the application form from Bangalore branch of SI.
-Bharat
about riots victms
Sir, I just want 2 express that there must be one form from one family. In case there are more then their must be some criteria to select them. Also the time for the draw is too long.
Sumit Dhiman - There will be a genuine lottery!
Bharat Bhushan Dureja - Yes you can - just hurry!
Nikhlesh Thakur - Its Punjab dude - people apply like anything ;)
What is the market price of this project..12000 per yard is GMADA price
Sachin
Sir,
SUB:GMADA AEROCITY PLOTS:MOCKERY OF THE SYSTEM
This is with reference to the 4000 plots offered by GMADA at a very reasonable rate for the comman man or the end user.The common man is afraid to invest with private coloniser or realtor since these colonisers are so strong and have mafia support. Common man has full faith with GMADA/GLADA/PUDA/HUDA.
But the recent scheme launched by GMADA (AEROCITY) has once again given a golden chance to grab the plots to the property dealers and land mafias. A common man can not apply for more than one plot or maximum two. But during the last one month the banks have finnanced applications in lacs. The scheme most suited the GMADA and the Banks. GMADA got huge deposit for six months, and banks got safe loans without any fear of there going bad (NPA) since the GMADA refund will directly go to the banks. Its only the common man who lost the interest.It has vertually become a lottrey or say gambling.This doesnt happen in advanced countries. Now the hundred dollar question is - has the purpose of providing plots to the needy persons , served ? The answer is a big NO.
I have come accross property dealers applying for 15 to 20 plots. There are unconfirmed reports that some property dealers applied for even 100 plots. These AEROCITY plots have virtualy become an investment game for profit booking.
It seems this scheme was formulated in a hurry. Had there been a provision of writing PAN NUMBER in the application form, only genuine and needy persons would have applied. All these multiple applications would have not been there and cornering of plots by property dealers would have been checked.
Already transperancy has come in the share market with the introduction of Pan cards in the online trading.PAN number should have been made compulsory for present and future GMADA applications Time has com when we should incorporate PAN NUMBER in all property deals. This will cosiderably reduce fear from the common man who is often victimised by the realtors and the property dealers. This will also check the undue rise in the land prices.
With warm regards
G S GILL
LUDHIANA
Very well written Mr Gill
Appox price quoting in grey market is 27000-28000 sq yards for 300 sq yard plots. Draw
What is the final tally of applicants applying Today being the last day. I have applied for 300 sq yards. Let us wait and watch.
can we check our apllication status on net in these gmada aerocity plots?????
can we check our apllication status n net at gmada.org?
r there different forms for riot victims? if yes then wen will it be out..?? as there wasnt any option in the earlier forms for riot victims...
Hello does any one knows whats the final figure and how many plots wer booked category wise and i have heard that results are in august on 3 days for different categories can any one confirm please
Hi,
I am from Kerala and have applied for a plot at aerocity mohali. Can any one from Punjab share his experiance with GMADA. Are these people honest or corrupt?
M Subramanium
Thiruvanantpuram
Dear Mr Kerala,
Just to let you know that GMADA is a govt body headed by the chief minister. Now knowing Mr Badal even a kid of two can tell you how FAIR the scheme would be. Need not mention the corruption level in punjab especially with the honourable Chief Minister.
lol good one aditya :p
Mr. Subramanium
Thanks for the comment. Albeit its true that Punjab is a corrupt state but its always not this way. Somethings in Punjab are still stable and healthy - lets just hope that this is one of them.
Cheers!
ANY WORD ON FINAL FIGURES AND ALSO DO THEY TELL CATEGORY WISE OR JUST THE TOTAL
Dear all,
I am a Punjabi myself who has spent more than 23 years of my life in India. As said by Mr Admin lets really hope this comes out to be a genuine draw (actually I shall be really happy to see even 2000 plots going by real draw). But then there is a known fact (all of u in India must actually know better than me) that property prices go up when its congress rule in Punjab (apparently told by a broker when i went to purchase a plot this time) and there has to be a reason behind this.
Also the second thing is this is a computer generated draw and its a software that will decide who will get the lucky numbers but then... the software ofcourse is made by a man himself and also .... the man who made the software was further appointed by a man himself and again the Root_key is Mr CM.
You dont have to go by my words but then ask urself why did GMADA spennt about 8+ crore rupees to a singapore based firm when the organisation itself had so many planners, architects and other related professionals employed by GMADA. Either they are not competent or did someone get a share for giving 8+ crores for outsourcing this while we had sources inhouse???
GOD IS There. It is proved from the facts in INDIA. Beleive it.
Beleive in GOD
Wait and see.
Nothing to wait and see guys - its happening is real. I am sure all the plots to be sold will be decided within a few days before the actual draw.
Also, there is a chance that this is the CM's game plan to get votes in the next election.
He may very easily make this draw fair and allot plots to common man in the draw and then taking the fair draw advantage to fetch votes.
MOST AWAITED NEWS UPDATE
Draw of lots for Aerocity in August, refunds by October, says GMADA
for more visit :
http://www.indianexpress.com/news/draw-of-lots-for-aerocity-in-august-refunds-by-october-says-gmada/644865/
***** OFFICIAL DRAW UPDATE *****
WISH U ALL THE BEST OF LUCK
::
3,800 plots to be allotted first, separate draw for 200 plots later
Sticking to its earlier commitment, the Greater Mohali Area Development Authority (GMADA) will hold a draw of lots for the allotment of residential plots in its first independent integrated township, Aerocity, in the first week of August and refund the money to the unsuccessful candidates by the first week of October.
Initially, the draw of lots will be conducted for the allotment of 3,800 plots, for which around 3 lakh applications have been received, while a separate draw of lots will be conducted to allot 200 plots reserved for victims of riots and terrorism, GMADA Chief Administrator Vivek Partap Singh told Newsline on Saturday.
Clearing the air over the apprehensions about the draw of lots being delayed since the applications for 200 reserved plots were yet to be invited, Singh said, “We will not wait for those applications, but will go ahead with the allotment of the rest 3,800 plots within minimum possible time as per our commitment.” To ensure this, he said, pressure was mounted on the authorised banks for the early delivery of received application forms to GMADA.
Divulging the plans, the GMADA chief disclosed that on receiving the final list of applicants from the banks, it will be posted on GMADA website for the information of applicants, who may point out errors, if any, for rectification before draw of lots. Letters of intent will be issued to the successful applicants immediately after the draw of lots, giving them 30 days' time for the deposit of 15 per cent of the allotted plot’s total price. On expiry of this time limit, the unsuccessful applicants will be considered for the plots surrendered by the successful applicants. For this, a waiting list in order of seniority will be drawn to the extent of five per cent of the total number of plots available under each category and the plots so made available will be offered to the applicants in the waiting list in order of merit.
Singh said though a maximum time period of 90 days after draw of lots was mentioned in the brochure for refund of earnest money to the unsuccessful applicants, it will be done within 60 days through electronic transfer of funds to the concerned banks.
So far, the GMADA has received over Rs 7,000 crore on account of earnest money deposited by applicants under the Aerocity scheme. “We expect Rs 500-1,000 crore more, which banks are yet to transfer us,” said GMADA Assistant Chief Administrator (Finance & Account) Rajesh Sodhi.After completing allotment of plots in Aerocity, GMADA will launch its second residential urban estate in Mullanpur by the year-end.
Thanks for the info Aditya.
I think there is a clause that residents who already hold a property in their name will not be alloted plots..Is this true.
Hi guys,
By the time draw is out, lets have a story. HOW TO SELL A DEAD HORSE.Once a merchant had a beautiful black horse but it died due to some reason. Now the merchant wanted to make money out of this. so he gave an add in the news paper that have a nice horse just in two dollars. But it will be sold by raffle (lottrey). so thousands of guys bought tickets for just two dollars. It was very cheap. so on one fine morning draw wa taken out and the lucky man was taken to the horse.
Gentleman , here is your horse , you may have it right now.
But it seems to be dead!
Oh' If thats the case I am very very sorry. Here is your two dollar note. and he cooly refunded his two dollars.
MORAL OF THE STORY:YOU CAN MARKET ANY THING PROVIDED YOU KNOW THE SKILLS.
This story has nothing to do with Gmada. But it does happen that draws are taken out honestly in front of public, but than lists are prepared when everyone has returned home and cursing his luck. Its has actually happened at HUDA panchkula and MHADA Mumbai, that only the ministers were the luckiest in the final list which got published in the news papaers.
Till then, have a nice day.
G S GILL
LUDHIANA
Hello Sir
I have applied the plot offered by GAMADA at Mohali but I don't know from where I get confimed myself wether I am qualified for the draw. Please let me know from where I can see the quaified list of applicants.
Mandeep Singh
Mandeep - there is no such list provided so far.
Good one again Mr Gill :)
When one can check his registration.? D.k.jain Nabha
Mandeep,
If you read through the lines properly (as posted above)- Divulging the plans, the GMADA chief disclosed that on receiving the final list of applicants from the banks, it will be posted on GMADA website for the information of applicants, who may point out errors, if any, for rectification before draw of lots.
So there is a possibility that you may see the list in near future on GMADA's website. Stay tuned. I'll keep updating.
Aditya
mr
Mandeep Singh
you didn't got slip from bank
any idea of draw of aerocity scheme
DID GMADA CONFIRMED AND BOOKING NUMBER CATEGORY WISE ??
Hello all, please clear my doubt, i did not get any slip from the bank as i have booked my plot through SBI. Does that sound familiar with anyone.Please advice
Abi75
From Indian Express
The Greater Mohali Area Development Authority (GMADA) has received a whopping Rs 8,200 crore on account of earnest money deposited by the applicants for its much-hyped first independent integrated township project — Aerocity.
Though the banks have transferred almost the entire amount received under the scheme to the GMADA account, some more money may come later following the final compilation of accounts, a GMADA official disclosed on Tuesday.
The amount received has surpassed all estimates made before launching the scheme. “The money received was more than double the number of plots, which means there are stakes of over Rs 2 crore on a single plot,” said an official, while claiming that Aerocity has broken all previous records of the response evoked by any residential urban estate in the entire region till now.
Though the scheme, after remaining open for a month, had closed on July 6, the authorised banks have not yet submitted final reports pertaining to applications received, said GMADA Estate Officer (EO) Balbir Singh. He said as per the preliminary reports available, the number of total applicants will be around three lakh and most applications have been received for lower sizes of plots ranging between 5 to 8 marlas.
Hello when will gmada put people name list on there website any ideas?
THE FORMS HAVE A DRAW SLIP ATTACHED.
DOES IT MEAN THAT THE DRAW WILL BE MANUAL?
Hi,
Dear Admin/Aditya/Mr. Gill
you all three seems to be very active in providing info to people around. Good job.
I have a question for you all. there are 3 payment option to pay balance 70% money after allotment of plots and in 1st option if you deposit balance 70% money as lump sum within 60 days of allotment you will get 10% discount.
My question is, if i pay this 70% as lump sum through bank finance, will it be considered as lumpsum and will i be eligible for 10% discount?
Please reply.
Sumit Dhiman
Dubai
@Sumit Dhiman
Yes, GMADA has nothing to do with the Bank. Its just the money they are after.
If you give then 70% in advance. You will get the 10% discount.
Cheers!
Hello can any one tell about when gmada will release the list on website??
Draw is in end of september its not in august
I also called today in gmada office and they said draw is in september end
CAN U DISPLAY A LIST OF 400SQYD PLOTS IN GENERAL CATEGORY FOR AEROCITY PLOTS
ANY NEWS GUYS WHEN WILL GMADA PUT LIST ON WEBSITE??? AND ANY MORE NEWS ON DRAW DATE YET?
Hi There, Thanks for such a resourceful blog.Really appreciate ur efforts.Gud on u guys.
I read that most of people have applied for 125 - 200 Sqyd plots.Is there any estimates about how many have gone for bigger ones? Any suggestions would be much appreciated.
The final lists have not been submitted by the banks.I had gone to a bank,where a few application were still pending.it means there are some pending applications with banks.This indicates it will take some more time.
i hope they do it by end of september not like other projects when the result come year after the promised date.
ek anar....sau bimar........
What is the latest expected date of draw ?
Can anyone in mohali find out in gmada office when they will declare name son websites and tentive draw dates
Aerocity project under HC lens
Saurabh Malik
Tribune News Service
Chandigarh, July 20
The much-hyped Aerocity housing project being developed by the Greater Mohali Development Authority (GMADA) has again come under the Punjab and Haryana High Court scrutiny.
Taking up the petition by Ludhiana resident Gurcharan Singh through his son, Justice Surya Kant today issued a notice of motion to GMADA. The petitioner is seeking directions to the state of Punjab and other respondents to include the mentally challenged and mentally ill in the category of disabled.
Justice Surya Kant also issued notice to Punjab’s social welfare department, asking them to file before the court their reply on the contentions raised by the petitioner.
Taking up the petition, Justice Surya Kant observed that the matter involved public interest and it should be heard as a public interest litigation (PIL) on the next date of hearing on August 13. With this, it is likely that the petition will be placed before the Division Bench headed by Chief Justice Mukul Mudgal.
As the case came up for hearing this morning, Samarjit Singh, son of petitioner Gurcharan Singh, asserted that an advertisement was issued on June 7 by GMADA for around 4,000 housing units in the Aerocity project. The reservation for the disabled was in violation of Section 43 read with Section 2 (i) of the Persons with Disabilities Act and was arbitrary and illogical, he said.
The petitioner also sought directions to modify the reservation policy for the allotment of houses and plots in the Punjab Urban Development Authority (PUDA) by including mentally challenged and mentally ill in the category of the disabled persons, since the Act did not differentiate the physically and mentally disabled so far affirmative actions by the state were concerned.
Aggrieved by the failure of GMADA to provide concession in rates to the physically challenged applicants, another contender had earlier also sought the High Court’s intervention in the plot allotment matter.
Taking note of the issues raised in the petition by visually challenged Sucha Singh, Justice Permod Kohli of the High Court today issued notice of motion to GMADA and directed that the allotment of plots to the physically challenged should be subject to the outcome of the civil writ petition
Watsup guys! Any news on the category wise application count ? It is high time that the listing is posted for verification if the draw is in the first week. Appreciate any news on the topic.
very educative talk going on here about gmada aerocity project. waiting for draw.
When will gmada post names on website ? i heard its within next 10 days
Results have not been declared. Please be patient.
My suggestion to Gmada is to expedite the draw of plots. Till the date of draw it will continue to have court cases, other disputes etc. But once the draw has been done, all other matters will submerge.
Pl keep on updating...
A total of 2,96,322 aspirants are in fray for 3,800 plots to be allotted in Aerocity — the first independent integrated township of Greater Mohali Area Development Authority (GMADA) spread across 1,000 acres of land in Sector 66 (East) and 82 (East) in the vicinity of the upcoming international airport here.
Over two weeks after the much-hyped scheme closed, all the 19 authorised banks have submitted the final figures of applications received and funds transferred to GMADA, but the received forms are yet to arrive.
With this, the wait for draw of lots will be longer. In the absence of application forms so far, GMADA will not be able to keep its promise of conducting the draw within one month after the closure of the scheme; and now, it has fixed September as deadline for plot allotment.
Confirming this, a senior GMADA official told Newsline on Friday that seven committees comprising estate officers, assistant estate officers, senior assistants and superintendents, have been formed to sort out, categorise and award registration numbers to the received application forms as and when they are transferred by the banks.
While the Central Bank of India, Yes Bank and Dena Bank have deposited the application forms with GMADA, most of the banks have promised to transfer them on Saturday and Sunday. “We have given them July 27 as the last date for submission of received application forms,” said a GMADA official.
He said in order to avoid any further delay on GMADA’s part, the constituted panels have been asked to work on Saturdays and Sundays, too, so that the processing of received application forms, which is a time consuming work, is completed within minimum possible time
Each panel has been entrusted with the responsibility to process application forms of a specific category of plot. Once this work is completed, the break-up of plot-wise aspirants will be known.”After processing is complete, the final list with registration numbers will be posted on the GMADA website for applicants to check and point out errors, if any,” the officer said, adding that draw of lots will be held by mid-September.
While the State Bank of India received 1,10,000 application forms, Bank of Baroda got 32,000; State Bank of Patiala received 26,052; Punjab State Cooperative Bank received 24,800; Oriental Bank of Commerce, 22,300; Punjab and Sind Bank, 19,400; Union Bank of India, 18,600; HDFC Bank, 9,000; Punjab National Bank, 8,562; Punjab Gramin Bank, 8,524; ICICI Bank, 5,188; Corporation Bank, 3,000; Bank of India, 2,955; Central Bank of India, 2,800; Allahabad Bank, 1,500; Yes Bank, 550; Canara Bank, 534; IndusInd Bank, 343; and Dena Bank, 214
@ Harjit Singh
Thank you for the above post. There were too many apprehensions going around.
Very Good effort Mr.Harjit.Keep it up.
good on u Harjit for keeping us updated.
Very much updated and highly informative blog. I am sure i need not ask any one else about my application for GMada Plot but only need to remain current with this Blog. Kudos! Keep it up Admin and all you guys there!
Sahota
gmada should post on webbsite the no of applicnts catageorywise
PLZ LET US KNOW THE CANDIDATES APPLIED UNDER FREEDOM FIGHTER, IF POSSIBLE SIZEWISE.
HELLO MY ANIL WHAT SIZE HAVE U APPLIED FOR??
can we fill up the forms For GMADA OR lAST DATE Was 6 july only ?
pls tell us if tjhere s any possibility
kindly do reply as soon as possible.
God Bless!
Dear Admin,
I think we may introduce sharing requests like I want to sell/I want to buy , provided this platform is not hijacked by realtors who may create artificial price rise.A fool proof system may be deviced to promote healthy, transparent sale purchase. Ofcourse there could be some genuine commision for this helpful site too. Lets think over it and initiate a true customer friendly sale purchase system where buyers and sellers are not duped.
With warm regards
G S GILL
LUDHIANA
Sir,
I am sorry you have missed the train. But you may try your luck when the results are declared. There will be a beeline of sellers when the results are declared in september. If you are realy serious about buying a plot, you may get at that time with a little priumem as all the applicants are not the end users. Many people have applied just because of easily available bank finnace. They may sell their allotment letters for some profit.
Try your luck.
regards
G S GILL
LUDHIANA
Done.
http://www.etikka.com/2010/07/buy-and-sell-gmada-aerocity-mohali.html
Hello mr gill
Your suggestion is very good and we will be able to get to know the actual prices.
Also can any one update the category wise applications yet?
Old days were good when our parents use to buy lottery tickets on diwali and they knew beforehand draw dates.These days we know where to buy forms,how much to pay but no idea when the results would be declared....sound so dodgy!!!
Appeal to CM of Punjab--Pl increse No of plots by ten times
Great effort by the Punjab Govt to ease housing pressure. To curn speculation and ensure housing for all, Punjab CM will become a hero if the no of plots can be increased by ten times. Then the plots will become more affordable in secondary market.
Even the dealers wont be blacmailing as namy more people can be accomodated while Punjab govt can get more funds for development
I missed the train. i wants to buy immediately after draw is held. can somebody quote the price?
HELLO MR RAVI JAIN
I HAVE CAME TO KNOW AND ITS CONFIRMED THAT WITHIN THIS YEAR 2 MORE SUCH PLOTS SCHEMES ARE BEING LAUNCHED BY GMADA ONE IS IN MULLANPUR NEAR PGI AND OTHE RIS ON MOHALI KHARAR BYE PASS SO LOTS OF OPPOURTUNITIES YET.
I have applied for 250 sq yrs plot If successful in draw likely in sept 2010 i plan to sell in 95 lakhs which means Rupees 65 lakhs as premium.
Dear Mr Harjij
What I meant was that since the no of applicants is about 3 lakh, and the AEROcity is a huge project , instead of launching a new scheme later this year , the Punjab govt has the right to increse or decrease the no of plots. LEt them increase the no of plots in this scheme itself by 10 times. This would be really a good step and punjab govt gets increase amount of moneey instantly to spend on roads and other infrastructure
Need of the hour is to maintain transparency and fairness in allotment. Trust this Project will not be equated with other similar Projects. Let GMADA set the example of honesty and fair play and show path to others in the country. Thanks
Dear All,
Its nice to see all the views posted above. To make the things clearer (leaving all the apprehensions behind. There is no scope of any more applications to be accepted or increment of number of plots from 4000.
The ask for 95 lakhs for 250 sq yard plot is genuine enough keeping in view the current market rates.
There are no reports available yet, be it category wise or size wise.
I personally do not expect the appreciation to hold its value in medium term due to following factors:
* Number of end users (amongst the applicants is less than prospective traders) hence supply will exceed demand all of a sudden leading to downfall in current market price plus different other factors will lead to mass selling (eg lack of funds with investor.
* GMADA coming up with 2 more projects very soon one in mullanpur and other in kharar byepass, so unsuccessful investors would like to try their luck in 2nd and then further in 3rd go.
* DLF coming up with its proposed township in mullanpur in december (omaxe launched its plots at around 14000 psqyrd initially).
My personal advise for traders is to sell it ASAP and for prospective buyers to wait till December.
However there is too much money in chandigarh, so u never know. I may be 100% wrong.
Once again, best of luck to all the applicants.
Aditya Kansra
Good on you Aditya.Its good to see that an NRI have so much info about Chandigarh Market.
Does anyone knows when will GMADA declare the results.
the demand of 5 lakhs for 250 sq yard plot is not genuine as this is not a established sector like the other where the prevailing rates 0f 30000-35000 is genuine .this type of unassesible figures will disturb the grey market premium and as such middle class will not afford to possess such plot
Hello there,
To notify at first – there is no fixed date announced officially yet, neither for listing of names on web nor for the date of draw. However, I expect listing by 2nd - 3rd week of August and draw by September end.
I guess someone has taken an offence to what I had written earlier, but not to worry my words are not a binding on anyone. In fact, thanks for your views.
The real truth is - Here if not everyone, at least 99.99% of people exist to serve their own purpose. We all have tried our luck and expecting a jackpot. For many of us here this could be once in a lifetime offer (assuming a one has actually got a plot in the draw). Had this not been the case the number of applicants wouldn't have touched the 300K mark.
Morally the grey market and high premiums should not happen, but in reality - it does and it will.
Now may I ask all my friends to please advise me on a small issue I have in mind now?
If 95 lacs is not affordable for a plot of 250 sqyrds for a middle class man (which quite rightly is true);
How many of us here actually think that even 30 lacs (12000 bsp x 250 sqyds) is affordable (plus any other expenses that one may have to incur eg. to get a plot registered on one's name etc.) and then build a house on it (for say another 20-30 lacs)?
I personally feel the scheme was never launched for a common man in the first place and the sad story of today is, ‘rich is getting richer and poor is getting poorer and middle one gets crushed in between’
Thank you all for joining in. All critics and views most welcome.
Aditya Kansra.
I feel that 90% of the applicants will sell their won plots. True story!
I will be the buyer if someone sells at genuine price
Well said Aditya
Well written Aditya.
Keep sharing
G S GILL
LUDHIANA
Hi All,
Good blog. I am also an applicant in this scheme.
I believe that this blog has views that are on both extremes(Positive as well as Negative) of reality. I believe that the number of appications is realistic considering the scope of projet and the prices would touch between 20-25K per Sq.Y. with in 6 months of draw.
Reasons -
a) Even if I assume 80% appications to be speculators - and only 20 % as people really interested in long term investment - it still means a ration of 15 applications for each plot.
b)There is no clearer title than being the holder of government approved plots.
There are many economic reasons as well.
Good Luck to all the applicants and a big thanks to all the bloggers.
kuk du kudoon ! please don't be discrimatory against us FOWLS. No FOUL lingo here.
CHEERIO !!
Thanks for the info Aditya. Are you an insider or something, how do you know so much about the project?
Can i add you as a friend on orkut?
Aditya It seem that you have a very good knowledge about this area!! I am prospective buyer in Mohali. Unfortunately, I couldn't filled the form. I am still interested to take plot in this area. I just wanted to know what should be the good for bargain for a plot of size 200/250 Sq. yard since I am interested for that much space only.
I know that per sq. yard price is 12k. Can someone give me some idea of any property dealer or seller to whom i can contact and what should be the nominal price for the same?
according to u wt will the price of 300 yrds aftr th draw i wnt to buy bcoz i missed th train of aerocity mohali
Let us assess genuine price likely to be immediate after declaration of draw results expected in early sept for each category of plots.
I assess prices based on factors like prevailing high prices of plots/junk kothis in tricity, Chandigarh (250 junk kothi 3.0 Cr),Panchkula(250 junk kothi 1.5 Cr) and Mohali (250 junk kothi 1.3 Cr),area surrounding aerocity site is fully developed and work on international airport is in full swing which will attract sudden flow of IT companies to the region,therefore, developments in the proposed area will be very fast.Also, in time to come area arround International airport is expected to be prime location in the region comprised of (Tricity) Chandigarh, panchkula and mohali.
If I take lowest rate in tricity i.e. 1.3 cr for 250 sq yrd, 52000 per sq yrd, 65% of this will be 33800 per sq yrd. At this rate calculations have been made.5% less for large size plots of 500 and 400 sq yrds.
I feel that prices immediate on declaration of draw are likely to be somewhere as follows 500 (1.6 Cr),400(1.35 Cr),300(1.01 Cr),250(85 lakhs),200(68 lakhs)and 150(51 lakhs). ....Raj
Well said Mr Aditya, just keep it up. Your info gives confidence to all those who have applied with their hard earned money and hope the system is fair.
Hello aditya
You have been a great informer and all the people on this blog are waiting for you to get us some information on the draw details and when gmada will post name son website i think you will be the first one to provide us with this information as ur hero of this blog
Dear All,
Thank you so much for your comments. It is overwhelming to see so many of us actually joining in and providing all of us with so much info. A big thanks to people appreciating my views.
Dear friend (quoted above) I am not an insider by any means, had I been, you wouldn't have seen me joining a blog. Believe me or not but I it has been good 24 years since I have been to Chandigarh and that was one and the only time. But I don't mind keeping up with the world in terms of info. I am just one of you who has applied for a plot but also done a bit of R&D on the project as well.
Yes you can find me on facebook and orkut by my full name Aditya Kansra and I shall be happy to make friends (especially supportive like you).
@ Raj - Thanks Raj you have really good informative and calculative pricing band up here which is not far from possible reality. Quite rightly so the prices in the market will be floated at the above rates.
@ Sumeet and all other potential buyers and sellers - Let us assess the possible market scenario after result declaration.
Before I start, I'd like to inform everyone here that my assessments are based on assumptions so I may be 0 - 100% wrong.
Facts associated:
*Almost 3lac applicants for 4000 plots.
*Most of the applications being financed by banks for the earnest money.
*Most important factor to consider - The Letter of Intent shall be transferable after receipt of 25% of the total price of the plot.
Assumptions:
* 90% of applicants are not end users.
* GMADA holds a fair draw i.e. no less than 80% plots are awarded by draw (I expect only this much to be the max possible fairness - I assume rest 20% to be pre-fixed before draw and you can well imagine who is gonna take those 20%)
So keeping above views in mind let's say the result has actually been declared in September end and I am a prospective buyer. The prices will be floated in between 30-40 k psqyd on day 1 after allotment. But I’d suggest to buy @ 18-22 k psqyd depending upon plot size and location (smaller size = higher premium + plc if any).
Market ask is 30-40k and I am saying buy @18-22k,which I am explaining as below:
@ continued @
Since most of the applicants have used banks' money to apply and assuming that even if they have opted for payment plan C and before they can actually sell their 250 sqyd plot they will have to make an arrangement of 7.5 lacs within 30 days of issue of allotment letter. So there is a time constraint for them to arrange 7.5 lacs within 30 days max. Knowing this fact the buyer should not jump into the buying market ASAP the plots become available and to increase their negotiating power at least 'do not commit to any buying deal with a token money equivalent to required sum payable before these 30 days expire'. This will add to pressure on seller to arrange for money before the period expires. Keep in mind to strike a good deal you still have to buy within first 30 days because of the constraint on seller but that doesn’t necessarily mean day 1. The best possible will be sourcing it after minimum of 15 days have expired. Because either the winner of the plot has to arrange money through a further bank loan which is not feasible for a trader (it takes time to obtain a bank loan plus cost of a bank loan for tenure of 10 years at prevailing interest rates = 68% of total sum procured) and if he is thinking of selling it later on at even double the price his margin comes down to 32% only (200-168) so he might as well sell now to reap whatever he can. ‘Plus there is a clause of mandatory construction within 3 years of possession’ and if the investor is not the end user why should he obtain a loan for 10 years (plus affordability factor).
And then down the line there are further more govt schemes of allotment coming up in Mullanpur and Kharar byepass to slow the resale market as well as bring the prices down.
Assuming the next GMADA scheme for Mullanpur is in December one can again try after scheme is launched as it is all the game of supply and demand. BUT the prices at that time won’t be the same as on say after 15-20 days of allotment as this will be period of rush for sellers.
@ For all sellers I’d recommend to adopt a vice-versa policy to sell it at a higher premium.
*note the above statements do not hold true for anyone who can afford to hold a plot beyond the first 30 days and have opted for plan C. Not worth mentioning people who prefer to buy on cash, of course they dictate their own terms and have no obligations apart from selling it in about 30 months period if they are not end users.
For sellers who do not wish to construct, sell it after 6-12 months but within first 30 months to fetch the highest return on investment possible with due regards to time scale. Coz by the time, the availability once again will saturate and demand will exceed the supply. (DLF plots and next 2 govt schemes
With regards to future prospects of the project, I do not doubt the possible northwards movement of prices in this area due to up-gradation of Airport. Also worth mentioning is the fact that Mohali is the most well planned city of Punjab and next to Chandigarh – the city of people with money.
Personally I’d like to buy at 18-22k ASAP and wish to sell at about 45-55k in about 12-24 months.
Please correct me if I am wrong. Once again thank you all.
Critics and views / comments most welcome.
Reagrds.
Aditya Kansra.
Dear Harjit,
Thanks once again for appreciation.
I shall try my best to keep up with your expectations and keep all of us here informed. But if some one else posts the next formal information before I do, it should be much appreciated as well. It has become a successful blog not because of me but because of us all.
I shall speak to Mr Balbir Singh on Monday and see if he can provide us any further information.
Regards.
Aditya Kansra
Thanks for the Information Aditya.
now i would like 2 tell my story....i have migrated to chd. recently due to my personal probs. n recently i sold my property in my village n planned to buy a house in khrar as property in chd. is too costly.. but on advise of my friend i went for this lottery as i thought i would b a matter of 1 month maximum bt who knew they r not even specifying the date of draw .... i m so frustrated .....though i hav money bt cant buy a house n expenditure in chd is too high infact i pay 10 thousand a month as rent n phir bhi there is space prob water problems etc, right now i cant even shift as i have hope to b successful.........now all of u may know that there will be no one more eager than me to know d results.....yar atleast i should know will i b getting plot r m wasting my time in vein ...if not dan i should llok 4 other houses in khrar n why to waste my money in paying rent n all
thanks ......hoping against hope
Thank you Mr Raj for providing us so much of information and arriving to an assessment with all detailed calculations and indicating clearly specific influencing factors. Your calculations will certainly help applicants to arrive at realistic rates. You will agree that schemes on Mullanpur and Kharar which have not been yet announced may take 6-12 months or even may not come into reality after success of Aerocity scheme because there is enough land available for govt to acqire around it. So these schemes will have no effect on deciding market pricing for plots in aerocity scheme.
Raj, I fully agree with you rates will be around 35,000 per sq yrd immediate on dclaration of result of draw.
Aditya can u pls through your guess on number of applications in Physically challenged category of 500 sq. yards.
Gaurav
hi aditya u have been so informative and i personnaly appriciate your views.do u have an idea wich way the much awaited draw will take place.will it be by computer or mannual?
Hello gaurav how many plaots have u applied fo and which category
Hello gaurav I think about 4500/4800 applications in physically challenenged for 500 sqd plots
can anybody tell no. of applicants for S.C./S.T. reserve for 500 SQ.MTS.
LATEST UPDATE
Listing during week commencing 23 Aug. Details to follow. Stay tuned.
Aditya Kansra
i must tell you guys i applied for some plots on my parents name - i have been outside india for sometime now i must conragtualte that this site gives so much info . my old parents are so impressed that i am abreast with the info -i want to say a big thankyou to everybody with comments - i just wish all of us would also be so vocal with other pressing issues facing chandigarh ..
4500/4800 applications inPH categary of 500 yards application seems to be completely abiguos....corrections required.....
1 crore is enough to live whole life with comfort... do'nt want much... :))))))
Hello Everybody,
THE LATEST UPDATE (straight from the horse’s mouth) – The listing of applicants on GMADA’s website will be done in the week commencing 23 Aug 2010.
I had a word with Mr Balbir Singh (Estate Officer, GMADA) and got all this information from him. GMADA has already received and processed 2.5 Lac applications but there are still 50 thousand more applications yet to come from banks and GMADA has instructed the banks to submit the data before 15 Aug 2010 and then it will take GMADA another 4 – 5 days to process that information and post it all online. So, all of you can expect your names to flash on GMADA’s website by the week commencing 23 Aug 2010. However Mr Singh also confirmed that no dates have yet been finalised for the draw. He also confirmed that the draw will be taken out manually and in public. So any of you present in Mohali can actually go there on the stipulated date and then update us all.
I think my estimate has worked right (my post dated July 30, 2010 12:39 AM) and I still maintain my stand on estimated date of draw to be end of September.
I hope this information will settle a few worried minds for now. I shall try to grab and post all the relevant information as and when available.
Cheers guys, you never know there may a few lucky winners amongst us here or possibly even all of us here.
Best of luck once again.
Aditya Kansta.
Sorry folks I couldn't pass on all the above info in the 1st instance as I was in the office and posting it via my phone. (not really conducive to do blogging)
Aditya Kansra
@ Market Funda - I am really sorry but I cannot give you any figures on PH category in 500 Sqyd lot as I do not have any info or estimates related to this. However your chances are probably very high because you have applied in a category which is firstly reserved and then further you are on the higher end of divisions and personally I do not expect a high number of applicants in your category.
@ Anonymous - Dear sir / madam as informed above, the draw will be taken out manually in public. Just keep your fingers crossed and if you win ..lets have some party sharty. Best of luck mate.
*please note the numbers are not out yet and everything here is just estimates. So it is very difficult to ascertain the category wise numbers in different sizes.
Stay tuned, much more to come.
Regards
Aditya Kansra
Hi Aditya, which country u are in now.
Big shout out to Mr. Aditya Kansra....Thanks for your valuable comments and insights..........ETIKKA TEAM.....Keep em coming.......
Thanks aditya for all the information i was waiting for yout this post.
Thanks Adi for making this blog live and informative
Everyone should be dedicated to an act which he handles like aditya ...... appreciable
it seems that if there will be any delay that will be on the part of these banks which failed to meet their obligations , these banks should be published so that the applicants who applied through these banks may ask these banks for early despatch of the forms otherwise there will be further delay
All participating Banks are Nationalized. There are bleak chances of them faltering.
Hello Everybody,
A big thank you all for being so active on this blog, trust me this is the only thing that keeps pushing me to write more and more.
@ Anonymous - Dear friend I reside in London, UK now.
@ Anonymous / Admin - As said above, quite rightly the delay has been due to banks. But this was expected from any financial institution as the money involved is a huge sum and it affects a lot on cash flow and income from interest generated (self imputed interest in this case)by delaying the payments. Sorry to interrupt admin all the banks involved were not nationalized (eg. HDFC) but yes you are very right as there won't be any chances of them faltering. Let us all keep our fingers crossed and hope for the best to happen sooner than later.
@ Team Etikka / Harjit / RP / Anonymous and all my other friends here. Thank you so much for appreciating my efforts. And a bigger thanks to everybody for being here and the reason I am saying this is because when I spoke to Mr Balbir Singh yesterday, I introduced myself as a blogger and told him there are about 100 - 120 people following this blog and they are all waiting eagerly for the update. I guess this was the only reason that he told me everything in detail otherwise he could have even shrugged me off (u never know!). What I mean is that it is the power of being 'us' which made me special yesterday or I could have easily been just another caller. So a very big thank you to everybody joining and following this blog.
Hope to hold this power of being 'us' and even grow further.
Thanks once again.
Aditya Kansra
Cheers!
Good om u Adi.Three cheers for Pom!!!
I hope we will soon get the details of category wise and plot wise bifurcation.
Regards
RP
Hi All,
According to a article in Indian Express on 14 JUL , GMADA will announce a draw of 3,800 plots in the first week of Aug and all unsuccessful applicants will get their money back by Oct.
gr8 effort aditya
Now we should discuss procedure of draw, AS it has been told that draw should be lotwise and mannual there is huge no of applications how it can be fare in presence of lot of draw slips, this matter is an issue to be discussed we should have an openion of all regarding that
Hi Aditya,
Where r u working in London, i mean which s/w company? I really appreciate the interest and support enhancing all others interets.
Regards,
Aditya,
Great job done :).
Which company u r working for in UK?
Regards
I have heard that GMADA has not got got the NOC for pollution. Someone also says that the draw might be cancelled. Is this true.
hey adi can u tell me something ........a bank financed my loan. in case i m not successful then the funded loan will b claimed by bank from me or gmada..n i hav to later on ask for funded money from gmada ?????????????????????
hi i m vikas. sir gamada ka result kab aa rha hai plz. right date or nera by date ans. kare? thank u.
Aditya - are you a broker?
Not really ,do I sound like one?
@Anonymous : August 4, 2010 3:23 PM - Dear friend if you can please read my post above, you will probably find the required info. Hope it helps.
@Anonymous : August 5, 2010 3:29 AM - Dear friend, as stated above, whats up next is that applicants' names will be published on GMADA's website for all of us to see and check if everything has been posted correctly. Then after a certain period (which will be notified by GMADA) when the proceedings of cross verification finish, draws will be held in different categories as the scrutinisation would have already been done by oneself, so the divisions would be easily formed and categorized to form different lots. Hope this makes sense.
If I am still not clear, please do not hesitate to ask for further info.
Regards.
Aditya Kansra
@ Genie / Anonymous : August 5, 2010 9:38 AM - I work for a Powder coating manufacturing company as the quality manager even though my background was in IT.
@ Anonymous : August 5, 2010 10:13 AM - This NOC thing started and has been dumped as well, so please do not worry much about the issue. Nothing will happen at all.
@ Anonymous : August 5, 2010 9:04 PM - God forbid, if you are unsuccessful on this attempt and your earnest money has been financed by bank itself. Just wait for the draw and then another month. You don’t have to do anything as the money shall be transferred into bank's account automatically and you don’t have to do anything for that. What I'd suggest you is, to go and ask for a NOC and the statement of account from the bank once all these things are over just to stay clear from any future financial troubles. Advisable to ask after 2 months of draw and the bank should / has to give it to you.
@ Vikas - No dates available yet, for further info kindly read the above posts.
Thank you everyone for all your support and wishes.
Regards
Aditya Kansra
Dear Aditya
why your post is being removed by the author.
Is there something wrong in that post
@JS Hansi: Author means the writer so it was me who deleted it to edit. I have edited and resubmitted those 2 posts (my last 2 posts). I wanted to add some more information in it.
Regards
Aditya Kansra
hiiii////
can u plz tell when will be the results of gmada aerocity will be declared..
gagan
Dear all
i want to know as to when can we change the payment plan(A, B,C) and what is the way to do it. Can we do it online
Rahul
Aditya , pl contact to balbir singh E O gmada on weekly basis for updates of process thanks
RESULTS RESULTS OF GMADA EVERYONE IS WITH QUESTIONS
NONE HAVING ANSWER ALL GUESSES ONLY....
SO WAIT N WATCH...
I suppose that Aditya is calling from UK - the reason why Balbir Singh is answering his questions. Else if we would have called he won't even have picked his phone.
Also, I believe - the effort Aditya has put in here. He deserves to win at least 1 plot for sure :D
Hello Everybody,
Thanks for showing so much support and trust.
@ Gagan – Results are expected to be declared by the end of September. For more elaborated views please read my posts above.
@ Rahul – You can change your payment option at any point of time before the draw. I’d advise you to ideally wait till the names of successful applicants are published on GMADA’s website and notice board. I hope this to be done within next 2 weeks. And then you can approach GMADA in writing about your intentions of changing the payment option by mentioning all the necessary details especially your application reference number.
@ Anonymous : August 6, 2010 8:54 PM – Dear friend, I can understand your concerns. Similarly I am also eagerly waiting for the ball to start rolling on now. But at the same time we should also be a bit considerate about the limitations and working ethics of different institutions. So I shall rather advise to wait till coming Friday when I shall again contact Mr Singh for further update, because if I start calling him so often, he may start refraining from answering my questions. Hope to get some good news soon.
@ Admin – I am not sure whether Mr Singh answers just because I am calling from UK, I believe its the power of ‘us’. May be – May not be. Frankly speaking I have so far spoken to him twice and he has sounded to be a genuinely good person. Thanks for your wishes admin. If I really do win a plot, I shall owe you a treat – a gentleman’s promise.
Regards.
Aditya Kansra
@ Rahul - Sorry forgot to answer the second part of your query. No Rahul, currently there is nothing that can be done online with regards to GMADA Aerocity applications.
Regards.
Aditya Kansra
Even after a month of closure of the much-hyped Aerocity scheme, the draw of lots for the allotment of 3,800 plots is nowhere in sight.
When the scheme closed on July 6, GMADA (Greater Mohali Area Development Authority) had been waiting for delivery of application forms received by the banks between June 7 and the closure date. Till date, GMADA has received almost 1.25 lakh of the total 3.02 lakh applications received by the banks. The remaining forms are still with the banks, GMADA Estate Officer Balbir Singh Dhol told Newsline.
Aggrieved over the delay, GMADA has written to the banks to transfer the received application forms without any further delay otherwise they will be held responsible and liable for any penalty or litigation arising out of delay in the allotment of plots. “Earlier, we had not imposed any such condition on the banks, but now we have made them accountable for the delay after waiting for almost a month,” said Dhol.
He disclosed that though 15 of the total 19 authorised banks have already deposited the forms, four main banks, including the State Bank of India, which alone had 1.1 lakh applications, are yet to transfer the forms.
Earlier, GMADA had fixed July 27 and then extended it to July 31 as last date for deposit of forms by the banks; but still, around 2 lakh forms are yet to arrive. “We have even offered to keep our office open on Saturdays, Sundays and other public holidays to facilitate early receipt of forms,” said Dhol.
He further said that after being pulled up, most of the defaulter banks have promised to transfer the forms by Monday, while two banks are likely to deposit around 56,000 forms on Saturday.
“For the delay, the banks have cited collection of forms from their branches across the country and certain problems caused by incessant rains last month as reasons,” said Dhol, expressing hope to hold the draw in September.
A separate scheme for the riot and terrorist victims will also be floated soon, said Dhol. As many as 200 plots are reserved for them in Aerocity.
A year after erroneously carving out plots on land reserved for Dasmesh Canal here, the Greater Mohali Area Development Authority (GMADA) is now finding it difficult to allot alternative plots to the allottees.
About 44 plots were allotted in Sector 80 by GMADA. It later realised that the plots had been carved out on the reserved land. By the time the allottees were directed against beginning construction work, two of the plot owners had already started construction.
GMADA has now decided to offer alternative plots to the affected allotees. After finalising details of the alternative sites, the proposal will be placed before Punjab Chief Minister Parkash Singh Badal during a forthcoming meeting. “It would only be after the CM’s nod that the re-allotments would be done,” said a senior official.
Sources said it was not only the case of Sector 80, the Dasmesh Canal had disturbed the planning of the Aerocity project. A 100 feet wide strip of land acquired for the canal by the irrigation department passes through various sectors of the greater Mohali area, including Sectors 80 and 81.
Since Dasmesh Canal had disturbed the planning of the prestigious Knowledge City in Sector 81, a proposal to realign the canal had been discussed with the irrigation department, but with little success. Now, the proposal would also be discussed at the Chief Minister’s level. In the Knowledge City, GMADA has re-alloted land to the Indian School of Business (ISB).
In the Aerocity housing project, GMADA has to forgo about 150 plots as the land acquired for the canal crisscrosses the project’s planning area. Not only the plots, the 100 feet wide strip of canal land would disturb the proper laying of essential facilities like roads, sewerage and storm water networks. About seven acres acquired by the department comes in the area for the Aerocity project.
Adopting a safer side in the future, GMADA had not planned plots on the land acquired for the canal by the irrigation department. The strip was being left as a green belt. The basic amenities would be planned keeping in mind the proposed canal’s alignment.
latest updates guys
"Even after a month of closure of the much-hyped Aerocity scheme, the draw of lots for the allotment of 3,800 plots is nowhere in sight.
When the scheme closed on July 6, GMADA (Greater Mohali Area Development Authority) had been waiting for delivery of application forms received by the banks between June 7 and the closure date. Till date, GMADA has received almost 1.25 lakh of the total 3.02 lakh applications received by the banks. The remaining forms are still with the banks, GMADA Estate Officer Balbir Singh Dhol told Newsline.
Aggrieved over the delay, GMADA has written to the banks to transfer the received application forms without any further delay otherwise they will be held responsible and liable for any penalty or litigation arising out of delay in the allotment of plots. “Earlier, we had not imposed any such condition on the banks, but now we have made them accountable for the delay after waiting for almost a month,” said Dhol.
He disclosed that though 15 of the total 19 authorised banks have already deposited the forms, four main banks, including the State Bank of India, which alone had 1.1 lakh applications, are yet to transfer the forms.
Earlier, GMADA had fixed July 27 and then extended it to July 31 as last date for deposit of forms by the banks; but still, around 2 lakh forms are yet to arrive. “We have even offered to keep our office open on Saturdays, Sundays and other public holidays to facilitate early receipt of forms,” said Dhol.
He further said that after being pulled up, most of the defaulter banks have promised to transfer the forms by Monday, while two banks are likely to deposit around 56,000 forms on Saturday.
“For the delay, the banks have cited collection of forms from their branches across the country and certain problems caused by incessant rains last month as reasons,” said Dhol, expressing hope to hold the draw in September.
A separate scheme for the riot and terrorist victims will also be floated soon, said Dhol. As many as 200 plots are reserved for them in Aerocity."
so guys still no draws in sight.Get urself engaged in something else as cant see draw coming in near future!!!!
@Anonymous / karan
Thanks for the above information. Please do not be pessimistic by the above news.
Guys
Did we not have this info before. I guess it has just been provided to media in a different manner.
I still maintain my stand on listing. During week commencing.23 Aug an draw by Sep end.
Dear Aditya,
My Son too is a software engineer at UK .
With warm regards
G S GILL
LUDHIANA
Hello Mr Gill,
Nice to know that your son is also here in the UK. I reside in London whereabouts does he live?
Also since you work for SBI, do you have any official figures / info about applications for GMADA submitted with SBI?
Regards.
Aditya Kansra
Dear Aditya
Thanks for a prompt response.
You seem to know everything about aerocity.
Rahul
sir As per today updates it is very much clear that some nationalized banks are / will be the cause of delay of draw prcess. it is being done only for the sake of interest because they have charged six months interest and if draw is held prior to that they will have to refund the interest banks are not doing fair practise by doing so
@ Anonymous : August 7, 2010 10:34 PM - Dear friend you are right when you say banks are a cause for delay. Partially right when you say interest money is the reason, but in this case it is self imputed interest that is prompting banks to hold the money for longer periods because the date of draw doesn't make a difference to the interest paid by the customer to the bank. Ones who have financed their earnest money through banks have paid the banks a lump sum interest up-front which is non-refundable. So in fact the sooner the draw the better is it for banks now because they will get their money back sooner and hence gain on the time saved as they have already charged their customers an up-front interest for 6 months. hat most of us are mixing up here is the data and the money. Money may have already been transferred to GMADA's account, its the applicants' data that is now urgently required which the banks have not submitted completely yet.
Hope this makes some sense.
Regards.
Aditya Kansra
Dear Aditya,
I had asked the bank regarding interest prior to get application financed .I was informed that the interest amount is refundable if it is refunded before six months.I had seen in DDA housing scheme, some amount of intrest was refunded to my friends.
Dear Aditya
i think mr anonymous is right. the amount of interest charged by the banks is for 6 months only. the banks are liable to return the balance if the earnest money is used for less than 6 months . i know it for sure.
Rahul
@Anonymous : August 8, 2010 7:02 AM - Dear Friend, thanks for correcting me. If this is the case, what you said earlier is 100% true and banks are doing this intentionally.
Reason I said this was because when I wanted to apply, the guy from SBI, Batala, Punjab told us that the interest is non-refundable and even if the draw exceeds 6 months (As they were charging for 6 months upfront) the bank shall not charge the customer anything extra. I assumed the results to be declared sooner than 6 months so I went with my own money in the end because I thought there is no point paying them so much for 2 - 3 months time.
Thanks once again for correcting me and providing the true info to us all.
Regards.
Aditya Kansra
fyi: I got a refund from SBI due to change in interest rates.
I had submitted the application at the initial rate with which SBi had launched the scheme. However later due to huge response they had reduced the rate. Few days back I received some money back which said GMADA refund and i think that is the difference between old and new interest rate
Dear All
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