The Greater Mohali Area Development Authority (GMADA) is expecting good response from the Eco-city-II scheme which was launched last week. This is the second phase of the scheme located in New Chandigarh (Mullanpur Garibdas). To woo buyers, GMADA has fixed uniform rates per square yard as compared to the first phase of the scheme.
GMADA launched the Phase II of Eco-city housing scheme last week and offered a total of 289 plots of different sizes. The last date for applying for the scheme is January 14. This time, GMADA has shown confidence in bigger plots as compared to the small-sized plots launched in the first phase of the scheme.
This time, GMADA did not offer plots of the sizes of 100 square yards and 150 square yards.
In the first phase of the scheme which was launched in 2015, GMADA had fixed different rates for plots of different sizes. For bigger sized plots, including 1,000 square yards and 2,000 square yards, GMADA fixed Rs 30,000 per square yard but in this scheme the rate for the bigger plots is the same as that of the short-sized plots which reduced the prices of the bigger plots by up to Rs 50 lakh to Rs 1 crore.
In the first phase, GMADA charged Rs 3 crore for 1,000 square yard plot while Rs 6 crore was charged for 2000 square yard plot. With the uniformity of the rates this time, buyers have to pay Rs 2.5 crore for 1,000 square yard plot and Rs 5 crore for 2,000 square yard plot.
A GMADA officer said that with the uniformity in the rates per square yard, buyers of bigger plots shall be benefitted.
The officer added that post-COVID-19, this is the biggest housing scheme GMADA had launched and they were expecting good response from it.