PUDA gets encouraging response to its maiden project in Mohali

Claiming to have sold more than 1,500 application forms in just 10 days, the Punjab Urban Development Authorities (PUDA) authorities have termed the response as ‘encouraging’ for their maiden project ‘The Gateway City’ in Mohali district.

Akash Ghai

Tribune News Service

Mohali, December 13

Claiming to have sold more than 1,500 application forms in just 10 days, the Punjab Urban Development Authorities (PUDA) authorities have termed the response as ‘encouraging’ for their maiden project ‘The Gateway City’ in Mohali district.

“We have sold over 1,500 forms since the launch of the project on December 3. This is a good response to our project in Sectors 118 and 119,” said the chief administrator of PUDA, MS Sidhu.

The project is said to be first of its kind in the entire state. The project is being developed under the Punjab government’s newly-launched policy, ‘Land owners become partners in development’. Under the policy, the PUDA would give its ‘goodwill’ to any project launched by private players.

“The land will be of private player and the PUDA will support the project to attract clientele. In consideration, we (PUDA) will get 20 per cent of the project,” said a senior official of PUDA Surinder Dundia.

Under the project, which has been located just at the rear of The North Country Mall on Mohali-Kharar highway, as many as 417 residential plots of various sizes are being offered at the rate of Rs 21,000 per sq yd.

The land was purchased by a big housing company, Emaar MGF.

“It (Rs 21,000 per sq yd) is the net rate which included external developmental charges, internal developmental charges, license fee, change of land use fee and other such charges,” said Dundia.

When asked if the government had been ‘bailing out’ the big real estate companies (as projects had been stalled due to slump in real estate business) from their losses, the PUDA authorities denied any such thing. “We give the project our ‘goodwill’, nothing else. If the development begins due to our name, what else do we need? Our final goal is just development,” said Dundia.

The sizes of plots included 150 sq yd (14 plots in number), 200 sq yd (30), 256 sq yd (113), 300 sq yd (127), 331 sq yd (15), 350 sq yd (16), 400 sq yd (82), 500 sq yd (7) and 545 sq yd (13).

The scheme will close on January 15 and the draw of lots will be held on March 11 next year.