Scheme opens,but no forms outside Mohali

An official at the Punjab National Bank,Sector 17-B,Chandigarh,said the branch had not got the forms yet. He directed people to their Mohali Phase-VII branch.

Similarly,the Union Bank of India (UBI) in Kharar did not have the forms and people were asked to go to the bank’s branch in Phase V,Mohali.

“In the list of authorised banks,UBI was the only bank in Kharar. But now I have to go all the way to Mohali to get the form,” Satwinder Kaur,a septuagenarian who had come from a village 10 kilometres from Kharar,said.

After it was brought to his notice,Vivek Partap Singh,Chief Administrator (CA) of the Greater Mohali Area Development Authority (GMADA), said the bank officials would be summoned on Tuesday and asked to ensure availability of forms at all authorised branches.

“We received demand of more forms from several banks today. We will supply them soon,” he said.

Also,the CA asked senior officials of the State Bank of India to make the forms available at the bank’s branches abroad. “We wanted to take the entire process online,but could not do it,” Singh said. He added that such schemes in future would be offered online.

‘The response is very good’
The Punjab Gramin Bank in Bakarpur village,the only village branch authorised to sell the application forms,took the lead in selling the maximum number of forms (over 1,000) on the first day. Maximum land for Aerocity was acquired in this village.

Elsewhere in Mohali,the scheme opened to an overwhelming response with the Corporation Bank in Phase X,Allahabad Bank in Phase IX,Bank of Baroda in Phase IX and the State Bank of India in Phase VII selling around 500 forms each.

“The response is very good. We are going to print 50,000 more brochures,” GMADA Estate Officer Balbir Singh,who visited several bank branches,said. Earlier,GMADA had got 50,000 forms printed. A form costs Rs 100.

Banks offer loan at 8 pc per annum
Most of the authorised bank are offering loans to purchase the plots. Going by the tentative interest rate of 8 per cent per annum,a buyer will have to shell out Rs 24,000 as advance six-month interest to get a loan of Rs 6 lakh,required to purchase a 500 square yards (1 kanal) plot in Aerocity. To get a loan of Rs 3 lakh,the earnest deposit required for a 10-marla plot,a buyer would have to pay Rs 12,000 as advance interest.