GMADA (Greater Mohali Area Development Authority) has decided to launch reasonable priced housing scheme. The proposed scheme will be launched in Mohali in 2015-16. This is the second biggest residential scheme of GMADA under the govt. land pooling scheme. Total Rs. 3,400 crore budget for the scheme has been planned and this planning will also include the development work in the town which has the worth of Rs.1,800.
For constructing 800 residential plots, the authority had earlier acquired 220 acres land in sector-90 & 91 and authority will also launch soon two new housing projects in Sector 66 & 70.
The source said that earlier the authority had launched flats & plots for allotment in Eco City Phase-II and now the authority will soon offer flats and plots in Eco City Phase-II Sector-88 in two major residential projects of GMADA which is scheduled to be completed in 2015-16.
In GMADA projects under land pooling scheme, the authority will offer 8 Marla & 10 Marla plots. About 600 acres land had been acquire in Sector-88 & 89 by GMADA under the land pooling scheme. The authority were also planned to construct 2BHK & 3BHK flats.
The GMADA official said that the property rates are going down but they not going to be permanent & there are lots of people which are buying their own house in private builder’s project; due to this turn of people GMADA offering the units in much more affordable price.