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Mohali: Verify before investing in projects, directs GMADA

The directive came in the wake of recent advertisements of a company, which was promoting its project under an affordable housing scheme as ‘Lok Awas’, however, the project had relations with the Prime Minister’s Lok Awas Yojna.

Written by Jagdeep Singh Deep | Mohali | Published: November 27, 2019 10:33:32 am
Mohali: Verify before investing in projects, directs GMADA GMADA building

Greater Mohali Area Development Authority (GMADA) on Tuesday directed buyers to make queries before booking residential properties, including flats and plots in private housing projects.

The directive came in the wake of recent advertisements of a company, which was promoting its project under an affordable housing scheme as ‘Lok Awas’, however, the project had relations with the Prime Minister’s Lok Awas Yojna.

A GMADA officer said that it had come to their notice that a private company, M/S Veera Developers Private Limited, was publishing advertisements in the name of ‘Lok Awas’, asking people to book residential properties in the project, and thus they had warned people to invest their money at their own risk as the project had nothing to do with the Union government’s scheme of affordable housing.

The officer further added that GMADA had issued a license to the company in June this year to set up an affordable colony in 25 acres land in Baliali village in Sector 74 A, under affordable colony policy.

“The promoter company is advertising the project in the name of ‘Lok Awas’ after seeking approval. The name of the promoter is not mentioned in these advertisements and only ‘Lok Awas’ is being advertised. People are informed that the ‘Lok Awas’ is a project being developed by the company and buyers should be mindful of it before investing in the project,” the officer added.

The company could not be contacted for response, when called on the phone number mentioned on their website.

Another officer in the housing branch of GMADA said that they did not have any problem if a company’s promotion of their projects, but the authority would not tolerate if buyers are misled. He said that because of misleading advertisements, people may invest money in these projects under the impression that they are government affordable housing projects.

“In that case, GMADA will not be responsible. It is a private project and people should make queries before investing money,” the officer said.

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