After the directions of the government, the Greater Mohali Area Development Authority (GMADA) has started a survey to set up land banks in the district.
GMADA officials said one such land bank would be set up in Mullanpur Garibdas area. Sources said they are identifying land in Mullanpur Garibdass and Derabassi areas. The GMADA is also planning to set up a land bank near Mohali town.
The officials said setting up land banks would rationalise the prices and make it easy for buyers to buy property.
GMADA chief administrator Ravi Bhagat told the Chandigarh Newsline that they have started the survey and soon the land banks would be set up.
“We will set up the land banks on land pooling basis under which the farmers will be given 1000 sqare yards area if his one acre is acquired. If a builder identifies a land for his project, then we will use 80:20 form under which the GMADA will share 20 per cent revenue of the project, while the rest 80 per cent will be for the builder,” he said.
An official further said the intention of land acquisition is to make owners and farmers partners in urban development of the state. The format provides for acquisition on land for land basis. The department is also in the process of identifying new sites for development.
The official also said the properties available for sale are divided into two categories – property transferred to the department under Optimum Utilisation of Vacant Government Lands (OUVGL) scheme and those available in the urban estates developed by the department.
“There are some big mega projects that are coming up in the district in the coming few months. There is requirement of land so the government has given us instructions to acquire land. This scheme will help the farmers,” said the official.