GMADA Eco City-2 scheme evoking decent response

Ludhiana: Greater Mohali Area Development Authority (GMADA) has given an opportunity to general public to own a house in foothills of Shivaliks by inviting applications for allotment of 289 residential plots at Eco City-2, New Chandigarh. The scheme which started on December 7, 2020 is scheduled to close on January 14, 2021. Allotment price of the plots has been fixed at Rs. 25,000/- per sq.yd. Plots being offered are of size 200 sq.yds, 300 sq.yds, 400 sq.yds, 450 sq.yds, 500 sq.yds, 1000 sq.yds and 2000 sq.yds. The scheme is receiving handsome response, as numbers of queries are being received from the aspirants interested in applying.

    Sharing details of the scheme, a spokesperson of GMADA revealed that, the scheme is open to all general category residents of the country (except persons settled abroad) who would attain the age of 18 years on the last date of applying in the scheme. Preference in allotment has been provisioned for senior citizens followed by women applicants. Once the list of these applicants is exhausted, others shall be considered for allotment. The benefit under various reserve categories and preferential category would be extended to those residents of the state who themselves or their spouse do not possess any plot/house anywhere in the country. 

    As far as the payment plan is concerned, it has been kept very convenient, stated the spokesperson. While 10% amount of the total price of the plot is to be deposited as earnest money at the time of submission of application, 15% payment is be made within 30 days of issuance of Letter of Intent. The balance 75% amount could be deposited lump-sum within 60 days of issuance of Letter of Intent or in six half yearly instalments alongwith 9% interest compounded annually. Allottees making lump-sum payment would be given a rebate of 5% on balance amount, he said.

    Scheme brochure could be purchased at a cost of Rs. 100/- from the Single Window Service Counter, PUDA Bhawan, Sector-62, SAS Nagar or from the branches of various banks (Kotak Mahindra Bank, AXIS Bank, Indusind Bank, ICICI Bank, IDBI Bank, State Bank of India, AU Small Finance Bank, Bank of Baroda, Yes Bank and HDFC Bank) associated in the scheme. Applications complete in all respects could be deposited in the banks on or before the last date. Applicants can also apply online by visiting the website gmada.gov.in Payment could be made online in such cases.