GMADA hands out 20,000 Eco-City brochures

The authority has also decided to limit the number of applications by a single person. A person can only apply in one category and one size. Multiple applications will be rejected. Husband,wife and children above 18 years of age can however apply separately. Those applicants successful in the draw of lots will be required to submit documents by post or in person to the authority. If a person cannot submit documents related to the eligibility criteria the earnest money paid by him will be forfeit.

The authority has also decided on two payment plans: Plan A and Plan B. An applicant has to pay 10 percent of plot’s tentative cost at the time of applying. A further payment of 20 percent of total cost of the plot will be done before 15 March. Under Plan A allottee can opt to pay the balance 65 percent of the tentative price within 60 days of the issue of LOI with a rebate of 5 percent on the balance amount payable. In Plan B,the balance 65 percent can be paid at 12 percent interest in 6 half yearly installments from the date of issue of LOI.

This time the waiting list in each category will be 15 percent of the total plots in that category or 5 plots which ever is more. The list will be valid for for only 6 months from the date of the draw.Also ,all corner and park play area facing plots will be charged 10 percent extra price. The plots having both the features will have to pay 15 percent extra.

The authority has decided that the possession of the plot to be handed over to the allottee after completion of the development work on the site within 30 months of the date of Issue of Letter of Intent. If the authority fails to hand over possession in the stipulated period they will be liable to pay the entire amount plus 8 percent interest annually.

Speaking to Newsline,Hargunjit Kaur,Land Acquisition Collector(LAC),said,“The brochures are being sent to all the selected banks today and can be bought for Rs 500. The authority has also decided to keep the waiting list for only six months”.

Payment plans

An applicant has to pay 10 percent of plot’s tentative cost at the time of applying. A further payment of 20 percent of total cost of the plot will be done before 15 March. After this,the applicant has a choice of two plans:

* In Plan A allottee can opt to pay the balance 65 percent of the tentative price within 60 days of the issue of LOI with a rebate of 5 percent on the balance amount payable.

* In Plan B,the balance 65 percent can be paid at 12 percent interest in 6 half yearly installments from the date of issue of LOI.

Curated For You

The Raja Saab Box Office Collection Day 1 Update: Prabhas starrer earns Rs 63 crore; Telugu industry starts 2026 with a bang

Noida Metro puts pictures of its own officials in calendar; without my consent, says MD

Lutnick’s deal timeline collides with Operation Sindoor, Trump’s ‘ceasefire’ claim