GMADA gets Rs 3,000 cr for Aerocity

Though the scheme,after remaining open for one month since its launch on June 7,had closed on Tuesday,all 15 banks authorised to sale and receive application forms were yet to submit their final reports pertaining to total number of applications received and funds transferred to the GMADA account.

“With most of the banks yet to give us even the preliminary reports,we expect to receive at least Rs 3,000 crore more money received by the banks from the applicants in the shape of earnest money with the applications,” GMADA Additional Chief Administrator (Finance and Account) Rajesh Sodhi told Newsline.

As per the preliminary report received till this evening,the Oriental Bank of Commerce today transferred Rs 800 crore,Union Bank of India Rs 600 crore,Punjab State Cooperative Bank Rs 500 crore,State Bank of India Rs 200 crore,ICICI Bank Rs 75 crore,Bank of Baroda Rs 50 crore,Yes Bank Rs 20 crore and Bank of India Rs 10 crore.

Though the banks have been given ten days time period to submit the final reports,they were expected to land within a day or two,a GMADA official said.

GMADA Estate Officer (EO) Balbir Singh said with the nodal branches of most of the authorised banks yet to get reports from their outstation branches,a preliminary report of receiving over 2 lakh applications forms was received till this evening and this figure does not included any figure from the outstation bank branches.

“We are in constant touch with the banks and have asked them to send us the final reports before transferring us the received applications forms and money as soon as possible so that we may begin the process to hold the draw of lots,” GMADA EO said.

GMADA Chief Administrator (CA) Vivek Partap Singh had already announced that all possible steps will be taken to ensure the early conduct of draw of lots,which he had estimated to be held within a month of receipt of application forms from the banks. After holding the draw of lots,GMADA plans to refund the earnest money of the unsuccessful applicants within another one month.

A total of 4,31,500 brochures were sold before the scheme closed.

“We are in a hurry to complete the entire process within minimum possible time as two more residential urban estates in Mullanpur and along 200-feet-wide Mohali-Kharar bypass are to be taken up on priority once Aerocity scheme matures,” added the GMADA CA.