GMADA offers ~1.1 cr land

Mohali, August 19

The Greater Mohali Area Development Authority (GMADA) has invited applications from societies and trust for the allotment of a 1,000 sq yd (1.65 kanal) site in Sector 77. The land can be used for building religious sites and costs Rs1.1 crore. The total includes Rs 1,10, 88,000 and a cancer cess of Rs 2, 21, 760, culminating in a total of Rs 1,13,09, 760.

GMADA officials said the scheme, launched on August 15, is on freehold basis. “From time to time the GMADA launches such schemes, based on the demand of residents,” said an official.

The ownership of the land and any building constructed on it will be vested in GMADA till the full price of the land is paid to them and the conveyance deed executed. Among other principles, the GMADA’s selection process includes an assessment of the financial position of the society, its present location and the objectives of the society.

The authority has also started the process of making speed breakers on blindspots in Aerocity. The estimated cost of constructing these will be Rs 30.26 lakh.— TNS