GMADA IT City Plots Scheme 2016 Review:Last Date – 19th Aug 2016

Greater Mohali Area Development Authority has launched a new residential plot scheme at the prime locations of IT City, SAS Nagar Mohali for the allotment of 750 residential plots. The new residential plot scheme 2016 of GMADA comprised of total 750 plots, available in three different sizes including 255.66 square meter, 300 square meter and 500 square meter. Applications are being offered through both online and offline mode of registrations from 18th July 2016 and last date  is 19th August 2016.

Scheme Name:  Greater Mohali Area Development Authority(GMADA ) IT City Residential Plots Scheme 2016

No. of Plots : 750

Location: Mohali,Chandigarh

Authority Schemes Viewpoint/Analysis/Review(Whether one should apply for this scheme or not!)Greater Mohali Area Development Authority Scheme 2016 for GMADA IT City Residential Plots:

Greater Mohali Area Development Authority (GMADA) is offering 750 residential plots in IT City, one of the prime locations in SAS Nagar, Mohali. IT City is a vibrant project of GMADA being developed in an area of 1685 acre in the vicinity of International Airport parallel to Airport road & PR-9 connected with Kharar – Banur road. Plots are being offered at an affordable rate of Rs. 20,000/- per square yard.

In the earlier scheme launched by GMADA  on February 28 and closed on April 15 in 2014, more than 50 per cent of the total 325 allottees in different categories of plots had surrendered their plots within one year of the allotment.Against the GMADA price of Rs 23,500 per sq yard, the plots were available for around Rs 16,000 per sq yard in the open market.

IT City enjoys a preferential location as it is located near the international airport. The site is easily accessible from Chandigarh, Delhi and major towns of Himachal Pardesh and J&K. The project is in vicinity of Aero City, another prestigious project of GMADA, where renowned companies such as World Trade Centre are going to start their business venture. Also various medical and educational institutes such as Fortis Hospital, IISER, ISB are closely located to the site.

Rate of Rs. 20,000/- per square yard being offered is still high from our point of view and therefore one cannot expect appreciation in near term and people may look from end use perspective only.

Salient Features:
Mohali International Airport is 1.5 km
Gmada Aerocity: 0.5-Km
Railway Station, Mohali is 1-km
Railway Station, Chandigarh is 10Km
Administrative cum Judicial Complex, Mohali is 8-km
Sector 62(City Centre), Mohali is 6-km
ISBT, Mohali is 12-Km
ISBT, Sector 43, Chandigarh is 9-Km
Fateh Burj at Chappar Chiri: 8-KM
Quark City and other IT Institutes: 6-Km
Mohali Cricket Stadium: 6-Km
NIPER and Fortis Hospital: 5-KM

You are invited to share your valuable views,opinion,review,analysis and feedback on Greater Mohali Area Development Authority Scheme 2016 for GMADA IT City Residential Plots  by writing a comment below for healthy discussion. Views opposite to what is mentioned above are most welcome :

Details of Greater Mohali Area Development Authority Scheme 2016 for GMADA IT City Residential Plots

gmada

Please follow and like us:

8 comments

  • This article is really cool. I have bookmarked it. Do
    you allow guest posting on your site ? I can provide high quality articles for you.
    Let me know.

  • Please go for IT city Gmada plot.If you get the plot its like Lottery. Even if you look at it as a investment even then you will lot of appreciation after 5 years ie the rates you can not imagine even.

  • the draw date has been postponed.I dint apply.thanks to you

  • It is very overly priced scheme. One should not apply for it.

  • I am salaried man. should i go for it?? i want to buy for my own use

    • authorityschemes

      If you are planning to buy on loan, then it might not turn out to be that beneficial. If you have more than 60% of your own funding, you may take a chance.

  • authorityschemes

    If it is your money, go for it..if it is loan money, please hold on as the property prices especially land prices are going to be hit from the black money eradication steps being taken by the government.

  • I was thinking to enroll for the IT city scheme, but thanks to your valuable suggestions..How you this investment after 10year. I am salaried person what would you suggest.

Leave a Reply to authorityschemes Cancel reply

Your email address will not be published. Required fields are marked *