Few days left for availing GLADA scheme

Tribune News Service

Ludhiana, September 3

A scheme inviting applications for the allotment of 82 freehold residential plots to the public and 11 residential plots to the Economically Weaker Section (EWS) has been started by the Greater Ludhiana Area Development Authority (GLADA).

GLADA officials said the scheme was evoking a good response from the public. A few days were left to avail the opportunity of owning a residing place at one of the prime locations of the city as the scheme was closing on September 7.

Scheme evoking good response: officials

GLADA officials said the scheme was evoking a good response from the public. A few days were left to avail the opportunity of owning a residing place at one of the prime locations of the city as the scheme was closing on September 7.

The site where plots are offered is located behind Hotel Keys on Sua Road, Ludhiana, and is adjoining Shaheed Bhagat Singh Nagar and near Bhai Randhir Singh Nagar. Also, it is well connected to Southern Bypass.

The site where plots are offered is located behind Hotel Keys on Sua Road, Ludhiana, and is adjoining Shaheed Bhagat Singh Nagar and near Bhai Randhir Singh Nagar. Also, it is well connected to Southern Bypass.

A spokesperson for the Housing and Urban Development Department said the Greater Ludhiana Area Development Authority had offered plots measuring up to 125 sq yd at a reserve price of Rs 29,000 per sq yd to the public and for plots measuring less than 100 sq yd, which are reserved for the Economically Weaker Section, the reserve price has been fixed at Rs 26,100 per sq yard. The applicants are required to deposit 10 per cent amount of the total cost of the plot as earnest money at the time of submission of the application and subsequent 15 per cent amount within 30 days from the date of issuance of the allotment letter.

“As far as the balance 75 per cent amount is concerned, the allottees have the option of paying it in lump sum within 60 days of issuance of the allotment letter to avail rebate of 5 per cent on this amount or could pay it in six equal half yearly instalments with interest at 9 per cent per annum compounded annually,” the spokesperson said.

Besides the residential plots, GLADA also has put nine SCOs on e-auction which are situated at the same site. The reserve price for these SCOs has been fixed at Rs 87,000 per sq yd. Details of the auction, which is slated to conclude at 1 pm on September 7, are available on the e-auction portal www.puda.e-auctions.in.

“The scheme has been launched to extend opportunity to the public to own a house in the industrial city. Taking care of the interests of the economically weaker section of society, 11 residential plots in the scheme have been kept reserve for the allotment to the EWS. A separate draw for allotment of plots to the EWS category will be conducted. Interested applicants can obtain the scheme brochure from branches of banks associated in the scheme or they could apply online by visiting the website www.glada.gov.in”, the spokesperson said.

Development works at site were almost complete and possession would be handed over immediately after issuance of the allotment letter, the spokesperson added.

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