GLADA scheme of residential plots located behind keys hotel to close on September 7 

Ludhiana: Scheme inviting applications for allotment of 82 freehold residential plots to general public and 11 residential plots to Economically Weaker Section which has been started by Greater Ludhiana Area Development Authority (GLADA) is evoking good response from general public. Few days are left to avail the opportunity of owning a residing place at one of the prime locations of Ludhiana, as the scheme is closing on 7-9-2020. The site where plots are offered is located behind Hotel Keys on Sua Road, Ludhiana and is adjoining Shaheed Bhagat Singh Nagar and near Bhai Randhir Singh Nagar. Also the site is well connected to the southern bypass.

Sharing details, a spokesperson of the Housing & Urban Development Department said that Greater Ludhiana Area Development Authority has offered plots measuring upto 125 sq. yd. at reserve price of Rs. 29,000/- per sq. yd. to general public and for plots measuring less than 100 sq. yd which are reserved for Economically Weaker Section, reserve price has been fixed at Rs. 26,100/- per sq. yd. The applicants are required to deposit 10% amount of the total cost of the plot as earnest money at the time of submission of application and subsequent 15% amount within 30 days from the date of issuance of allotment letter. As far as the balance 75% amount is concerned, allottees have the option of paying it in lump-sum within 60 days of issuance of allotment letter to avail rebate of 5% on this amount or could pay it in 6 equal half yearly instalments with interest @ 9% per annum compounded annually, said the spokesperson.

Besides the residential plots, GLADA also has put 9 SCOs on e-auction which are situated at the same site. The reserve price for these SCOs has been fixed at Rs. 87,000/- per sq. yd. Details of auction which is slated to conclude at 1.00 PM on 7-9-2020 are available on the e-auction portal www.puda.e-auctions.in

The scheme has been launched to extend opportunity to general public to own a house in industrial city, Ludhiana. Taking care of the interests of the Economically Weaker Section of the society, 11 residential plots in the scheme have been kept reserve for allotment to EWS. Separate draw for allotment of plots to Economically Weaker Section category shall be conducted. Interested applicants can obtain the scheme brochure from the branches of the banks associated in the scheme or they could apply online by visiting website www.glada.gov.in

Development works at site are almost complete and possession shall be handed over immediately after issuance of allotment letter, the spokesperson added.