Phase-I of Urban Estate to have 2,800 plots, to also develop Medicity over 125 acres
High on the success of Aerocity,Greater Mohali Area Development Authority (GMADA) is all set to float a scheme for freehold residential plots in phase-I of its Urban Estate at Mullanpur.
In addition,GMADA has also set aside 125 acres for Medicity,a hub of the finest services in hospital care,to encourage medical tourism potential in the region.
Phase-I of Mullanpur will cover 400 acres approximately offering 2,800 plots,and will comprise two sectors. Urban Estate phase-I is at a distance of near 7 kilometers from PGI.
Medicity,located a little ahead of phase-I on the opposite side of the road going from PGI to Mullanpur,is about 8 kms from PGI.
Price of the plots to be offered in this prized residential destination,very close to Chandigarh,will be about 30 per cent higher than the price charged by GMADA for plots in Aerocity.
Aerocity plots were given at Rs 12,000 per square yard (Rs 3 lakh per marla). This was nearly three times less than the market price prevailing in Mohali,when the scheme was launched last year. At that time,the rate in Mohali was Rs 35,000-40,000 per square yard.
Private real estate developers have also been selling plots in Mullanpur over the past couple of years. While the plots sold by some of the developers are currently available for Rs 18,000-20,000 per square yard,those being sold by the high-end developers are now priced at Rs 24,000 per square yard.
GMADAs phase-I scheme will have plots in diverse sizes,like 100 square yards (4 marla),200 square yards (8 marla),300 square yards (12 marla),400 square yards (16 marla) and 500 square yards (1 kanal). There will be 400 to 700 plots in each category. The plots in smaller sizes will be offered in larger numbers.
Mullanpur Urban Estate phase-I may also offer 100 plots measuring 1,000 square yards. In the Aerocity project,the maximum size of the plot was 500 square yards only.
GMADA is developing Mullanpur as an independent integrated township. The authority wanted to launch the phase-I project earlier,but it was delayed due to litigation by some of the owners from whom land was acquired. It was resolved a few days ago. Since all the land acquired for phase-I has now been acquired,GMADA is drawing up the final plans for announcing the scheme.
For Mullanpur Urban Estate phase-I,GMADA has laid emphasis on better planning of the layout and infrastructure. Officials said there has been a conscious effort to provide more green areas and parks.
Within the residential area,too,wider roads have been provided. The streets are laid out straight. In order to avoid traffic congestion,the major commercial area and the institutional area of the sector do not run midway through it.
Officials say that space for schools,colleges and hospitals has been provided as per town planning norms.
GMADA officials said since security is now a major issue in the tricity,the Mullanpur phase-I has been planned in such a way that at night only one entry point will be kept open,manned by a security guard.
From the Aerocity project,GMADA had received over Rs 10,000 crore as earnest money deposited by the applicants.
It expects good response to Mullanpur phase-I too. At present,land is being acquired for Medicity,and also phase-II of the Mullanpur Urban Estate. Phase-II is slightly smaller than phase-I,and covers 350 acres approximately.