MOHALI: This year Greater Mohali Area Development Authority (Gmada) has commenced a new reasonably priced housing scheme for the year 2015-16, at Mohali.
This is Gmada's second biggest residential project under the land-pooling scheme. The total budget is planned to be around Rs 3,400 crore, which will also include development work in the town which has been decided worth Rs 1,800 crore.
The authorities had already acquired 220 acres in sectors 90 and 91 and where they have planned to construct around 800 residential plots and there are two housing projects coming up in Sectors 66 and 70.
A K Sinha, chief administrator, GMADA, said, "We have new scheme to be launched in Sector 88 and also allotment of new plots or flats at Eco City under phase II are the two major residential projects scheduled to be completed in 2015-16."
Eight and 10 marla plots would be available in sectors 90 and 91 which comes under the second project under the land-pooling scheme.
The Gmada had already acquired land measuring 600 acres in Sectors 88 and 89 under the land polling project. Two BHK and 3BHK flats in sectors 66 and 70 were also on the cards.
"The Gmada understands that property rates are slashing but they not going to be permanent, and there are people who are approaching private builders to have their own house or flats and we are offering the same and that too in much more affordable price," said Sinha.