Last date extended to Sept 6 for GLADA freehold plots

LUDHIANA: The Greater Ludhiana Area Development Authority (GLADA) has extended the date for submission of applications for allotment of 203 freehold residential plots, along with 28 plots reserved for economically weaker sections (EWS) in GLADA Estate to be set up on Sua Road, behind Keys Hotel (adjoining Shaheed Bhagat Sigh Nagar) here to September 6.

Our Correspondent

Ludhiana, August 25

The Greater Ludhiana Area Development Authority (GLADA) has extended the date for submission of applications for allotment of 203 freehold residential plots, along with 28 plots reserved for economically weaker sections (EWS) in GLADA Estate to be set up on Sua Road, behind Keys Hotel (adjoining Shaheed Bhagat Sigh Nagar) here to September 6.

The scheme had been launched on August 2 and it was to close on August 26. Officials said the date had been extended on public demand for the plots to be allotted by lot proposed to be conducted on September 16.

As per the offer document, 169 plots measuring up to 100 square yards and another 34 plots with an area between 100-125 square yards had been carved out for allotment to general public at reserve price of Rs 29,000 per square yard. The residential plots being offered for allotment to EWS with an area of up to 100 square yards would be allotted at Rs 26,100 per square yard. A commercial pocket in the colony has also been planned and the shop-cum-office sites would be soon offered for sale through e-auction.

According to the GLADA officials, the applicants would have to deposit 10 per cent of the total cost (Rs 2.9 lakh) as earnest money (Rs 2.61 lakh for EWS plots). 15 per cent of the cost along with 2 per cent cancer cess would be payable within 30 days of the issue of letter of intent.

The balance 75 per cent could be paid by allottees either in a lump sum within 60 days of date of allotment which would entitle them to a rebate of 5 per cent or else in six equated half-yearly instalments with 9 per cent interest compounded annually. In case of payment in instalments, the first instalment shall become due after six months of the date of issue of allotment letter.

Applications for allotment of plots could either be sent directly to GLADA online (at www.glada.gov.in) or through designated branches of HDFC Bank, Axis Bank, State Bank of India, Punjab National Bank and IDBI Bank.