ADA to hold first draw of lots for Aero city residential plots on January 13

Tribune News Service

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Amritsar, January 6

For the first time since its inception, the Amritsar Development Authority (ADA) is all set to hold a draw of lots for its Aero-city scheme on January 13.

Aero-city, which has 428 plots, is situated on the airport road.

In all, the ADA would sell 998 residential plots of different sizes in its three different schemes through a draw of lots.

These schemes are the Grand City scheme on the Amritsar-Jalandhar GT road adjoining the Indian Institute of Management, Green City on the Verka bypass in Vallah village besides Aero-city. Grand City has 400 plots to offer and Green City has 170 residential plots.

ADA chief administrator Sandep Rishi said draw of lots for these localities would be held after completion of formalities of every scheme. He said the plots in Aero-city would be offered at Rs 15,000 per square yard, in Green City at Rs 14,000 per square yard and in Grand City at Rs 12,000 per square yard.

Eariler, there was a plan to build one more locality named the Water Front city on the Verka road. However, the idea was dropped after receiving an insufficient response from the public.

The ADA had conducted a survey to ascertain the demand for the plots in these areas of the city last year. The ADA had come into existence in 2007 to provide planned localities to the city residents and to ensure the growth of the city according to the Master Plan.

The demand survey has been initiated by the ADA under the state government’s newly floated plan that envisages to develop cities and provide basic infrastructure by making landowners its partners in development.

The ADA had entered into an agreement with four landowners to develop their land into residential complexes under its “landowners become partners in development” scheme.

Meanwhile, the project that draws a good response from the public would get the owner of the land Rs 1 crore per acre. Subsequently, after the development of the project, the profit earned through selling the plots would be shared between the landowners and the ADA on 80:20 basis.

A fund-starved Punjab government has envisaged this plan to develop the cities and provide basic infrastructure without investing crores of rupees. In turn, the landowners would be offered branding, expertise and influence.

The funds generated through the demand survey and loans taken from banks will be invested for the development of these pockets.

Once all formalities are completed, these areas will be developed as per the PUDA norms, which envisage that 50 per cent of the area will be residential, five per cent commercial and roads, parks, sewerage treatment plants and water tanks. Other activities will be undertaken on the remaining 45 per cent area.