GMADA Eco City Plot Scheme 2015

Greater Mohali Area Development Authority has come up with new residential plot scheme at Eco City Phase-II New Chandigarh. GMADA Eco City Plot Scheme 2015 offers 338 residential plots of different sizes. The scheme is second of its kind, earlier GMADA has launched Eco City Phase-I which received great response. The available plot size lies in the range of 100 Sq. Yds to 2000 Sq. Yds. The minimum rate per square yard is Rs. 21,000/- for 100 Sq. Yd plot which goes upto Rs. 30, 000/- for 2000 Sq. Yd plot. Scheme started on 09 March, 2015 and will end on 15 April, 2015.

GMADA Eco City Plot Details:

No. of Plots Size (Sq.Mtr) Size (Sq.Yds.) Rate/Sq.Yds.
(in Rs.)
Earnest Money
(in Rs.)
Tentative Price
(in Rs.)
84 83.61 100 21,000/- 1,00,000/- 21,00,000/-
26 125.42 150 21,000/- 1,00,000/- 31.50,000/-
15 167.23 200 21,000/- 2,00,000/- 42.00.000/-
29 250.84 300 21,000/- 3,00,000/- 63.00,000/-
11 334.45 400 23,000/- 4,00,000/- 92.00.000/-
24 418.06 500 23,000/- 5.00.000/- 1.15.00.000/-
83 836.12 1000 30,000/- 10,00,000/- 3,00,00,000/-
66 1672.25 2000 30,000/- 15,00,000/- 6,00,00,000/-
Application Money (Non refundable) Rs. 1000/-

GMADA Eco City Plot Scheme Eligibility Criteria:

  1. The applicant must be a resident of India and must be at least 18 years old on the last date of submission of the application.
  2. Those who own or were allotted at any time by a Government Agency a residential Plot/Flat/House fully on lease hold or free hold basis in any of the Urban Estates developed by GMADAPUDA, House-fed or any other Government Agency or in Cooperative Societies to whom land was allotted by any of the government agencies in SAS Nagar (Mohali) Sub-Division or Chandigarh or Panchkula in own /spouse/minor children’s name are not eligible to apply.

FOR RESERVE CATEGORY:

  1. The applicant under reserve category must be a resident of Punjab only as defined by State Government or has  been residing in Punjab for the last five years.
  2. The applicant must have not availed benefit of allotment of plot / flat /house under any reserve category in any scheme of any Government agency anywhere in the Punjab.

TERMS & CONDITIONS :

  1. Application Money/Earnest money shall be payable only in the shape of a demand draft favouring Estate officer, GMADA, Payable at Mohali.
  2. All corner and park/play area facing plots will be charged 10% extra price, plots with both the features will be charged 15% extra.
  3. Plots are allotted on as is where is basis” and GMADA shall not be liable to compensate for any extra expenditure that the allottee may have to incur to level the site.

PAYMENT SCHEDULE

1.(a) 30% of the tentative price (minus the earnest money paid) plus 2% Cancer & Drug Addiction Treatment Infrastructure Fund on the allotment price shall be payable within 30 days of issue of letter of intent. In case allottee fails to deposit the amount or surrender the plot within this stipulated period the amount paid shall be refunded after 10% deduction of the deposited amount and allotment will be cancelled. Only in case of exceptional circumstances and subject to a prior written request within 30 days of issuance of LOI, delay up to 30 days may be condoned with 1.5% surcharge, up to 60 days with 2% surcharge and up to 90 days with 2.5% surcharge and upto 6 months with 3% surcharge. In addition to above surcharge, allottee is required to pay penal interest @ 18% p.a. after the expiry of 30 days of the issuance of LOI to the date of payment and no application for condonation of any type of delay will be entertained after 30 days of issue of LOI However in case of Non payment after delay condoned the entire earnest money shall be forfeited.

(b) Option of the payment Plan:
Plan A : Allottee can opt to pay the balance 70% of the tentative price within 60 days from the date of issue of LOI with a rebate of 5% on the balance amount payable.
Plan B : Balance 70% of the tentative price can be paid @ 12% interest in 10 half yearly instalments from the date of the issue of LOI.

How to Apply: Application form cum Information Brochure can be purchased from any of the designated Bank by paying an amount of Rs. 100/- latest by 30 April, 2015. You can also visit Single Window Service Counter, PUDA Bhawan, Sec 62, SAS Nagar for purchase of Application form.

For Online Application Visit http://202.164.62.237/New%20Sale/Draw.aspx?cid=19

Banks Authorised for Sale & Receipt of Application Forms:

  • STATE BANK OF PATIALA: Nodal Branch: Phase 7, Mohali
  • PUNJAB NATIONAL BANK: Nodal Branch: SCO 175-176, Sector 8-C, Chandigarh
  • BANK OF BARODA: Nodal Branch: Phase-9, Mohali
  • CENTRAL BANK OF INDIA: Nodal Branch: SCO 528, Sector-70, Mohali
  • STATE BANK OF INDIA: Nodal Branch: Personal Banking Branch, Sector 17-B, Chandigarh
  • PUNJAB GRAMIN BANK: Nodal Branch: Sector-70, Mohali
  • ING VYSYA BANK: Nodal Branch: Sector-44. Chandigarh
  • AXIS BANK: Nodal Branch: SCF113-114, Phase-7, Mohali
  • ORIENTAL BANK OF COMMERCE: Nodal Branch: SCO 44. Sec21-C, Chandigarh
  • ICICI BANK LTD.: Nodal Branch: SC0 485-486. Sector35-C, Chandigarh
  • IDBI BANK: Nodal Branch: Fortis Hospital. Phase 8. Sector 62. Mohali
  • PUNJAB & SIND BANK: Nodal Branch: SCO 84-91, Bank Square, Sector 17-B, Chandigarh
  • THE PUNJAB STATE COOPERATIVE BANK LTD.: Nodal Branch: SC0175-187, SECTOR 34 A, Chandigarh

Important Dates :

Scheme Opens 09-03-2015
Scheme Closes 30-04-2015
Uploading of applicants data for verification by applicants 15-05-2015
Objections / Corrections to be intimated by 29-05-2015
Draw of Lots (if required) 05-06-2015
Uploading/declaration of result (or notice of postponement due to unforeseen circumstances) on the website 08-06-2015
Submission of documents of Reserve categories those successful in the draw of lots and those appearing in the waiting list 24-06-2015
LOIs to be dispatched by 06-07-2015
30% of the price of the plot (minus earnest money paid with application ) to be deposited 30 days of dispatch of LOI

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