GLADA Estate: Last date extended to Oct 11

Our Correspondent

Ludhiana, September 19

In going ahead with development of an affordable housing colony, GLADA Estate on Sua Road behind Keys Hotel (adjoining Shaheed Bhagat Singh Nagar), it seems the Greater Ludhiana Area Development Authority (GLADA) has chewed more than it can swallow. In the wake of poor response from the buyers for 203 freehold residential plots and another 28 plots for the economically weaker sections (EWS), the last date for submission of applications has been extended for the third time to October 11 (draw to be held on October 14).

The scheme for sale of residential plots (by lot) was launched on August 2 and it was to close on August 29 with the draw of lots for allotment slated for the first week of September. However, with not much interest shown by the buyers, the date for submission of applications along with 10 per cent earnest money, was first extended to September 6 (draw of lots on September 16), then September 18 (draw postponed to September 25).

Even though GLADA continues to claim that date for applications had been extended on public demand, sources in the realty sector maintain otherwise while pointing out that the reserve price of plots fixed by GLADA (Rs 29,000 for general public and Rs 26,100 for EWS), was unrealistic and on a higher side compared to the prevailing market price of residential plots in the approved colonies located in the vicinity.

However, GLADA officials sid the facilities proposed to be provided in GLADA Estate would be far more than those being made available by developers in approved colonies. “The complex would have underground electrical cables, storm water sewer lines, extensive green belts and separate sewage treatment plant (STP) in addition to 64-foot-wide main approach road,” they said.