Patiala Development Authority (PDA) will hold a draw for 104 residential plots of different sizes at Urban Estate, Phase III, in the city on Tuesday.
The PDA, which works with Punjab Urban Development Authority (PUDA), received a total of 1,477 applications for the scheme. The last date of submission of application forms was July 20. There are nine plots of 100 square yard, 10 of 150 square yard, 24 of 200 square yard, 24 of 300 square yards, 15 of 400 square yard and 22 of 500 square yards.
Vini Mahajan, Additional Chief Secretary, Department of Housing and Urban Development, stated that according to the provisions of the allotment policy, preference in all categories of the plots was given to senior citizens, followed by women.
The idea behind the government of Punjab extending the benefit under preferential category was to offer social security and respect to the senior citizens and women who do not own a house.
Successful applicants and those in waiting list will be required to submit documents at the office of PDA till October 5 to establish their respective category. Plots are being offered at a reserve price of Rs 14,000 per square yard in the scheme.
The applicants were required to deposit 10 per cent of the total price of the plot as earnest money, along with the application.
Mahajan said that Letter of Intent (LoI) to the allottees shall be issued by October 31 and within 30 days of the issuance, they will have to deposit the next installment, 15 per cent of the allotment price.
Thereafter, for the balance amount of 75 percent, the allottees will have an option of depositing it in lump sum within 60 days from the date of deemed possession, where they will be given a rebate of 5 per cent or they could deposit it in six half yearly equated installments, along with 12 per cent annual interest.
“Allotment letters will be issued to the allottees within a month of the date of offer of the possession.
Development works will be started soon at the site and the possession of the plots will be handed over to the allottees on completion or within 18 months from the date of issuance of LoI,” Mahajan said.
Harpreet Singh Sudan, Chief Administrator, PDA, revealed that the earnest money of the unsuccessful applicants, will be refunded by the end of October.
”For the convenience of the applicants, who may not be able to attend the draw physically, arrangements have been made for live streaming of the proceedings of the draw on http://www.pdapatiala.in,” said Sudan.