GMADA has received a whopping Rs 8,200 crore

The Greater Mohali Area Development Authority (GMADA) has received a whopping Rs 8,200 crore on account of earnest money deposited by the applicants for its much-hyped first independent integrated township project — Aerocity.

Though the banks have transferred almost the entire amount received under the scheme to the GMADA account, some more money may come later following the final compilation of accounts, a GMADA official disclosed on Tuesday.

The amount received has surpassed all estimates made before launching the scheme. “The money received was more than double the number of plots, which means there are stakes of over Rs 2 crore on a single plot,” said an official, while claiming that Aerocity has broken all previous records of the response evoked by any residential urban estate in the entire region till now.

Though the scheme, after remaining open for a month, had closed on July 6, the authorised banks have not yet submitted final reports pertaining to applications received, said GMADA Estate Officer (EO) Balbir Singh. He said as per the preliminary reports available, the number of total applicants will be around three lakh and most applications have been received for lower sizes of plots ranging between 5 to 8 marlas.

“We have asked the banks to expedite the preparation of final reports and submit the same along with received application forms within this week to enable us to begin the process of holding draw of lots,” said Singh, while informing that after receipt of application forms, they will be sorted out in order of category and the final list will be posted on GMADA website for inviting rectification, if any, from the applicants before holding the draw of lots.