26.11.2011

For the first time since its inception, the Greater Mohali Area Development Authority (GMADA) will be offering over 6,000 pre-constructed apartments in Sector 88, Mohali.

The scheme will be launched in the first week of December and allotments will be made through a draw of lots. Possession will be handed over in 30 months from date of draw.


GMADA Chief Sarvjit Singh said the apartments will be spread across 120 acres of land in Sector 88, with at least 50 per cent of the space to be used for open green spaces.


He added that the flats will be distributed in high rise buildings. The number of buildings and storeys in each are yet on decided. “It depends on the various pending clearances for the project,” said Sarvjit.


GMADA will offer one, two and three bedroom flats with size ranging between 500 square feet to 1,500 square feet. All sizes come with an attached but independent entry servant quarter. The price range will be Rs 42 lakh for the smallest flats to Rs 65 lakh for the largest. “Though bank finance will be available we are contemplating a three-year lock-in period on sale after possession so that need stands a better chance than greed,” said Sarvjit.