Construction work for Aerocity begins

The road will stretch from the railway under bridge (RUB) junction in Sector 66-66-A to Chhat village on the Zirakpur-Patiala National Highway-64.

For the Rs 80.32-crore project,work has been awarded to a joint venture company (JVC) of Mumbai-based Niraj Cement Structures and Bhubaneswar-based ARSS Infrastructure Projects.

The JVC,which takes up projects related to construction of roads,highways and bridges,has been given 18 months to complete the work,which includes the around nine-kilometre long road,a high-level bridge and composite works of public health and electrical,a senior GMADA official told Newsline.

The JVC is also constructing the Kaushalya Dam on a tributary of Ghaggar in Pinjore.

The official said the road would be ready within a year and the bridge and other work would take another six months.

The road will create a direct link between Mohali and the Zirakpur-Patiala highway. Its construction will be the first step in the development of Aerocity,strategically located close to the airport,but away from the flight route.

This makes it the most sought after residential destination at Rs 12,000 per square yard (Rs 3 lakh per marla),nearly three times less than the market price in Mohali.

In a week since the scheme offering 4,000 freehold residential plots ranging between 125 square yards (five marla) to 500 square yards (one kanal) opened,GMADA has sold over 50,000 application forms.

Besides carving out 4,000 plots,GMADA has reserved sites for commercial and institutional purposes and multi-storied flats in Aerocity,the official said.

The urban estate would be developed as an independent integrated township.

Possession of plots in 30 months
GMADA has promised to give possession of plots to the allottees within 30 months. In case of failure to meet the deadline,the allottee will have a right to withdraw from the scheme and GMADA will refund the entire deposited amount with 10 per cent simple interest.

“We plan to hold a draw of lots within one month of the closure of the scheme on July 6,and return the money to unsuccessful candidates within 90 days,” the official said.

Transfer
The letter of intent can be transferred after payment of 25 per cent of the total price,and one per cent of total price as transfer fee,besides Rs 1,000 processing fee.

Reserved plots
If requisite number of applications are not received for the 1,440 plots reserved under various categories,these would be offered to general category applicants.

Waiting list
Following the draw of lots,a waiting list will be made for 10 per cent of the total number of plots available under each category.

Applicants in the waiting list will be given plots according to seniority in the event of surrender of plots by allottees. The waiting list will be valid for one year from the date of draw.