Sunday 1 August 2010

GMADA Aerocity Mohali Draw Results

  1. Aditya : July 9, 2010 2:46 AM

    Dear Mr Kerala,

    Just to let you know that GMADA is a govt body headed by the chief minister. Now knowing Mr Badal even a kid of two can tell you how FAIR the scheme would be. Need not mention the corruption level in punjab especially with the honourable Chief Minister.

  2. Anonymous : July 9, 2010 2:47 AM

    lol good one aditya :p

  3. Admin : July 9, 2010 2:49 AM

    Mr. Subramanium

    Thanks for the comment. Albeit its true that Punjab is a corrupt state but its always not this way. Somethings in Punjab are still stable and healthy - lets just hope that this is one of them.

    Cheers!

  4. HARJIT SINGH : July 9, 2010 5:31 PM

    ANY WORD ON FINAL FIGURES AND ALSO DO THEY TELL CATEGORY WISE OR JUST THE TOTAL

  5. Aditya : July 10, 2010 3:04 AM

    Dear all,

    I am a Punjabi myself who has spent more than 23 years of my life in India. As said by Mr Admin lets really hope this comes out to be a genuine draw (actually I shall be really happy to see even 2000 plots going by real draw). But then there is a known fact (all of u in India must actually know better than me) that property prices go up when its congress rule in Punjab (apparently told by a broker when i went to purchase a plot this time) and there has to be a reason behind this.

    Also the second thing is this is a computer generated draw and its a software that will decide who will get the lucky numbers but then... the software ofcourse is made by a man himself and also .... the man who made the software was further appointed by a man himself and again the Root_key is Mr CM.

    You dont have to go by my words but then ask urself why did GMADA spennt about 8+ crore rupees to a singapore based firm when the organisation itself had so many planners, architects and other related professionals employed by GMADA. Either they are not competent or did someone get a share for giving 8+ crores for outsourcing this while we had sources inhouse???

  6. Anonymous : July 10, 2010 9:32 AM

    GOD IS There. It is proved from the facts in INDIA. Beleive it.

  7. Anonymous : July 10, 2010 9:34 AM

    Beleive in GOD

  8. Anonymous : July 10, 2010 9:34 AM

    Wait and see.

  9. Admin : July 10, 2010 1:42 PM

    Nothing to wait and see guys - its happening is real. I am sure all the plots to be sold will be decided within a few days before the actual draw.

  10. Admin : July 10, 2010 1:44 PM

    Also, there is a chance that this is the CM's game plan to get votes in the next election.

    He may very easily make this draw fair and allot plots to common man in the draw and then taking the fair draw advantage to fetch votes.

  11. Aditya : July 11, 2010 4:46 PM

    MOST AWAITED NEWS UPDATE


    Draw of lots for Aerocity in August, refunds by October, says GMADA

    for more visit :

    http://www.indianexpress.com/news/draw-of-lots-for-aerocity-in-august-refunds-by-october-says-gmada/644865/

  12. Aditya Kansra : July 11, 2010 4:52 PM

    ***** OFFICIAL DRAW UPDATE *****

    WISH U ALL THE BEST OF LUCK

    ::

    3,800 plots to be allotted first, separate draw for 200 plots later
    Sticking to its earlier commitment, the Greater Mohali Area Development Authority (GMADA) will hold a draw of lots for the allotment of residential plots in its first independent integrated township, Aerocity, in the first week of August and refund the money to the unsuccessful candidates by the first week of October.

    Initially, the draw of lots will be conducted for the allotment of 3,800 plots, for which around 3 lakh applications have been received, while a separate draw of lots will be conducted to allot 200 plots reserved for victims of riots and terrorism, GMADA Chief Administrator Vivek Partap Singh told Newsline on Saturday.

    Clearing the air over the apprehensions about the draw of lots being delayed since the applications for 200 reserved plots were yet to be invited, Singh said, “We will not wait for those applications, but will go ahead with the allotment of the rest 3,800 plots within minimum possible time as per our commitment.” To ensure this, he said, pressure was mounted on the authorised banks for the early delivery of received application forms to GMADA.

    Divulging the plans, the GMADA chief disclosed that on receiving the final list of applicants from the banks, it will be posted on GMADA website for the information of applicants, who may point out errors, if any, for rectification before draw of lots. Letters of intent will be issued to the successful applicants immediately after the draw of lots, giving them 30 days' time for the deposit of 15 per cent of the allotted plot’s total price. On expiry of this time limit, the unsuccessful applicants will be considered for the plots surrendered by the successful applicants. For this, a waiting list in order of seniority will be drawn to the extent of five per cent of the total number of plots available under each category and the plots so made available will be offered to the applicants in the waiting list in order of merit.

    Singh said though a maximum time period of 90 days after draw of lots was mentioned in the brochure for refund of earnest money to the unsuccessful applicants, it will be done within 60 days through electronic transfer of funds to the concerned banks.

    So far, the GMADA has received over Rs 7,000 crore on account of earnest money deposited by applicants under the Aerocity scheme. “We expect Rs 500-1,000 crore more, which banks are yet to transfer us,” said GMADA Assistant Chief Administrator (Finance & Account) Rajesh Sodhi.After completing allotment of plots in Aerocity, GMADA will launch its second residential urban estate in Mullanpur by the year-end.

  13. Admin : July 11, 2010 4:55 PM

    Thanks for the info Aditya.

  14. Anonymous : July 12, 2010 5:44 PM

    I think there is a clause that residents who already hold a property in their name will not be alloted plots..Is this true.

  15. Anonymous : July 12, 2010 8:20 PM

    Hi guys,
    By the time draw is out, lets have a story. HOW TO SELL A DEAD HORSE.Once a merchant had a beautiful black horse but it died due to some reason. Now the merchant wanted to make money out of this. so he gave an add in the news paper that have a nice horse just in two dollars. But it will be sold by raffle (lottrey). so thousands of guys bought tickets for just two dollars. It was very cheap. so on one fine morning draw wa taken out and the lucky man was taken to the horse.
    Gentleman , here is your horse , you may have it right now.
    But it seems to be dead!
    Oh' If thats the case I am very very sorry. Here is your two dollar note. and he cooly refunded his two dollars.
    MORAL OF THE STORY:YOU CAN MARKET ANY THING PROVIDED YOU KNOW THE SKILLS.

    This story has nothing to do with Gmada. But it does happen that draws are taken out honestly in front of public, but than lists are prepared when everyone has returned home and cursing his luck. Its has actually happened at HUDA panchkula and MHADA Mumbai, that only the ministers were the luckiest in the final list which got published in the news papaers.
    Till then, have a nice day.

    G S GILL
    LUDHIANA

  16. Anonymous : July 12, 2010 9:01 PM

    Hello Sir

    I have applied the plot offered by GAMADA at Mohali but I don't know from where I get confimed myself wether I am qualified for the draw. Please let me know from where I can see the quaified list of applicants.

    Mandeep Singh

  17. Admin : July 12, 2010 9:07 PM

    Mandeep - there is no such list provided so far.

  18. Admin : July 12, 2010 9:08 PM

    Good one again Mr Gill :)

  19. Deekay : July 12, 2010 10:32 PM

    When one can check his registration.? D.k.jain Nabha

  20. Aditya Kansra : July 12, 2010 11:41 PM

    Mandeep,

    If you read through the lines properly (as posted above)- Divulging the plans, the GMADA chief disclosed that on receiving the final list of applicants from the banks, it will be posted on GMADA website for the information of applicants, who may point out errors, if any, for rectification before draw of lots.

    So there is a possibility that you may see the list in near future on GMADA's website. Stay tuned. I'll keep updating.

    Aditya

  21. Anonymous : July 13, 2010 3:21 AM

    mr
    Mandeep Singh
    you didn't got slip from bank

  22. rajesh : July 13, 2010 5:46 PM

    any idea of draw of aerocity scheme

  23. Anonymous : July 13, 2010 10:15 PM

    DID GMADA CONFIRMED AND BOOKING NUMBER CATEGORY WISE ??

  24. Anonymous : July 13, 2010 11:21 PM

    Hello all, please clear my doubt, i did not get any slip from the bank as i have booked my plot through SBI. Does that sound familiar with anyone.Please advice

    Abi75

  25. Anonymous : July 14, 2010 7:33 AM

    From Indian Express

    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.

  26. Anonymous : July 14, 2010 2:59 PM

    Hello when will gmada put people name list on there website any ideas?

  27. Anonymous : July 14, 2010 4:39 PM

    THE FORMS HAVE A DRAW SLIP ATTACHED.
    DOES IT MEAN THAT THE DRAW WILL BE MANUAL?

  28. Anonymous : July 14, 2010 5:50 PM

    Hi,

    Dear Admin/Aditya/Mr. Gill

    you all three seems to be very active in providing info to people around. Good job.

    I have a question for you all. there are 3 payment option to pay balance 70% money after allotment of plots and in 1st option if you deposit balance 70% money as lump sum within 60 days of allotment you will get 10% discount.

    My question is, if i pay this 70% as lump sum through bank finance, will it be considered as lumpsum and will i be eligible for 10% discount?

    Please reply.

    Sumit Dhiman
    Dubai

  29. Admin : July 14, 2010 5:53 PM

    @Sumit Dhiman

    Yes, GMADA has nothing to do with the Bank. Its just the money they are after.

    If you give then 70% in advance. You will get the 10% discount.

    Cheers!

  30. Anonymous : July 15, 2010 7:18 AM

    Hello can any one tell about when gmada will release the list on website??

  31. HARJIT SINGH : July 16, 2010 12:09 PM

    Draw is in end of september its not in august

  32. Anonymous : July 16, 2010 4:39 PM

    I also called today in gmada office and they said draw is in september end

  33. NADISH : July 17, 2010 11:18 PM

    CAN U DISPLAY A LIST OF 400SQYD PLOTS IN GENERAL CATEGORY FOR AEROCITY PLOTS

  34. Anonymous : July 18, 2010 1:26 PM

    ANY NEWS GUYS WHEN WILL GMADA PUT LIST ON WEBSITE??? AND ANY MORE NEWS ON DRAW DATE YET?

  35. karan : July 18, 2010 3:34 PM

    Hi There, Thanks for such a resourceful blog.Really appreciate ur efforts.Gud on u guys.

    I read that most of people have applied for 125 - 200 Sqyd plots.Is there any estimates about how many have gone for bigger ones? Any suggestions would be much appreciated.

  36. Anonymous : July 18, 2010 7:35 PM

    The final lists have not been submitted by the banks.I had gone to a bank,where a few application were still pending.it means there are some pending applications with banks.This indicates it will take some more time.

  37. Anonymous : July 19, 2010 11:23 AM

    i hope they do it by end of september not like other projects when the result come year after the promised date.

  38. Anonymous : July 20, 2010 9:54 AM

    ek anar....sau bimar........

  39. Anonymous : July 20, 2010 5:20 PM

    What is the latest expected date of draw ?

  40. Anonymous : July 20, 2010 10:54 PM

    Can anyone in mohali find out in gmada office when they will declare name son websites and tentive draw dates

  41. Anonymous : July 21, 2010 7:09 AM

    Aerocity project under HC lens
    Saurabh Malik
    Tribune News Service

    Chandigarh, July 20
    The much-hyped Aerocity housing project being developed by the Greater Mohali Development Authority (GMADA) has again come under the Punjab and Haryana High Court scrutiny.

    Taking up the petition by Ludhiana resident Gurcharan Singh through his son, Justice Surya Kant today issued a notice of motion to GMADA. The petitioner is seeking directions to the state of Punjab and other respondents to include the mentally challenged and mentally ill in the category of disabled.

    Justice Surya Kant also issued notice to Punjab’s social welfare department, asking them to file before the court their reply on the contentions raised by the petitioner.

    Taking up the petition, Justice Surya Kant observed that the matter involved public interest and it should be heard as a public interest litigation (PIL) on the next date of hearing on August 13. With this, it is likely that the petition will be placed before the Division Bench headed by Chief Justice Mukul Mudgal.

    As the case came up for hearing this morning, Samarjit Singh, son of petitioner Gurcharan Singh, asserted that an advertisement was issued on June 7 by GMADA for around 4,000 housing units in the Aerocity project. The reservation for the disabled was in violation of Section 43 read with Section 2 (i) of the Persons with Disabilities Act and was arbitrary and illogical, he said.

    The petitioner also sought directions to modify the reservation policy for the allotment of houses and plots in the Punjab Urban Development Authority (PUDA) by including mentally challenged and mentally ill in the category of the disabled persons, since the Act did not differentiate the physically and mentally disabled so far affirmative actions by the state were concerned.

    Aggrieved by the failure of GMADA to provide concession in rates to the physically challenged applicants, another contender had earlier also sought the High Court’s intervention in the plot allotment matter.

    Taking note of the issues raised in the petition by visually challenged Sucha Singh, Justice Permod Kohli of the High Court today issued notice of motion to GMADA and directed that the allotment of plots to the physically challenged should be subject to the outcome of the civil writ petition

  42. Anonymous : July 21, 2010 10:22 AM

    Watsup guys! Any news on the category wise application count ? It is high time that the listing is posted for verification if the draw is in the first week. Appreciate any news on the topic.

  43. Anonymous : July 21, 2010 3:03 PM

    very educative talk going on here about gmada aerocity project. waiting for draw.

  44. Anonymous : July 21, 2010 5:10 PM

    When will gmada post names on website ? i heard its within next 10 days

  45. Admin : July 21, 2010 10:07 PM

    Results have not been declared. Please be patient.

  46. Anonymous : July 22, 2010 10:16 AM

    My suggestion to Gmada is to expedite the draw of plots. Till the date of draw it will continue to have court cases, other disputes etc. But once the draw has been done, all other matters will submerge.
    Pl keep on updating...

  47. HARJIT SINGH : July 24, 2010 12:08 PM

    A total of 2,96,322 aspirants are in fray for 3,800 plots to be allotted in Aerocity — the first independent integrated township of Greater Mohali Area Development Authority (GMADA) spread across 1,000 acres of land in Sector 66 (East) and 82 (East) in the vicinity of the upcoming international airport here.



    Over two weeks after the much-hyped scheme closed, all the 19 authorised banks have submitted the final figures of applications received and funds transferred to GMADA, but the received forms are yet to arrive.



    With this, the wait for draw of lots will be longer. In the absence of application forms so far, GMADA will not be able to keep its promise of conducting the draw within one month after the closure of the scheme; and now, it has fixed September as deadline for plot allotment.



    Confirming this, a senior GMADA official told Newsline on Friday that seven committees comprising estate officers, assistant estate officers, senior assistants and superintendents, have been formed to sort out, categorise and award registration numbers to the received application forms as and when they are transferred by the banks.

    While the Central Bank of India, Yes Bank and Dena Bank have deposited the application forms with GMADA, most of the banks have promised to transfer them on Saturday and Sunday. “We have given them July 27 as the last date for submission of received application forms,” said a GMADA official.



    He said in order to avoid any further delay on GMADA’s part, the constituted panels have been asked to work on Saturdays and Sundays, too, so that the processing of received application forms, which is a time consuming work, is completed within minimum possible time



    Each panel has been entrusted with the responsibility to process application forms of a specific category of plot. Once this work is completed, the break-up of plot-wise aspirants will be known.”After processing is complete, the final list with registration numbers will be posted on the GMADA website for applicants to check and point out errors, if any,” the officer said, adding that draw of lots will be held by mid-September.



    While the State Bank of India received 1,10,000 application forms, Bank of Baroda got 32,000; State Bank of Patiala received 26,052; Punjab State Cooperative Bank received 24,800; Oriental Bank of Commerce, 22,300; Punjab and Sind Bank, 19,400; Union Bank of India, 18,600; HDFC Bank, 9,000; Punjab National Bank, 8,562; Punjab Gramin Bank, 8,524; ICICI Bank, 5,188; Corporation Bank, 3,000; Bank of India, 2,955; Central Bank of India, 2,800; Allahabad Bank, 1,500; Yes Bank, 550; Canara Bank, 534; IndusInd Bank, 343; and Dena Bank, 214

  48. Aditya Kansra : July 24, 2010 8:01 PM

    @ Harjit Singh

    Thank you for the above post. There were too many apprehensions going around.

  49. Anonymous : July 24, 2010 8:55 PM

    Very Good effort Mr.Harjit.Keep it up.

  50. karan : July 24, 2010 10:09 PM

    good on u Harjit for keeping us updated.

  51. Anonymous : July 25, 2010 1:43 AM

    Very much updated and highly informative blog. I am sure i need not ask any one else about my application for GMada Plot but only need to remain current with this Blog. Kudos! Keep it up Admin and all you guys there!
    Sahota

  52. Anonymous : July 25, 2010 1:55 PM

    gmada should post on webbsite the no of applicnts catageorywise

  53. ANIL GUPTA : July 25, 2010 4:56 PM

    PLZ LET US KNOW THE CANDIDATES APPLIED UNDER FREEDOM FIGHTER, IF POSSIBLE SIZEWISE.

  54. Anonymous : July 26, 2010 1:29 PM

    HELLO MY ANIL WHAT SIZE HAVE U APPLIED FOR??

  55. Anonymous : July 26, 2010 3:19 PM

    can we fill up the forms For GMADA OR lAST DATE Was 6 july only ?
    pls tell us if tjhere s any possibility
    kindly do reply as soon as possible.
    God Bless!

  56. Anonymous : July 26, 2010 7:24 PM

    Dear Admin,

    I think we may introduce sharing requests like I want to sell/I want to buy , provided this platform is not hijacked by realtors who may create artificial price rise.A fool proof system may be deviced to promote healthy, transparent sale purchase. Ofcourse there could be some genuine commision for this helpful site too. Lets think over it and initiate a true customer friendly sale purchase system where buyers and sellers are not duped.

    With warm regards

    G S GILL
    LUDHIANA

  57. Anonymous : July 26, 2010 7:32 PM

    Sir,

    I am sorry you have missed the train. But you may try your luck when the results are declared. There will be a beeline of sellers when the results are declared in september. If you are realy serious about buying a plot, you may get at that time with a little priumem as all the applicants are not the end users. Many people have applied just because of easily available bank finnace. They may sell their allotment letters for some profit.

    Try your luck.

    regards


    G S GILL
    LUDHIANA

  58. Admin : July 26, 2010 9:09 PM

    Done.

    http://www.etikka.com/2010/07/buy-and-sell-gmada-aerocity-mohali.html

  59. Anonymous : July 26, 2010 9:19 PM

    Hello mr gill
    Your suggestion is very good and we will be able to get to know the actual prices.

    Also can any one update the category wise applications yet?

  60. Anonymous : July 27, 2010 10:07 AM

    Old days were good when our parents use to buy lottery tickets on diwali and they knew beforehand draw dates.These days we know where to buy forms,how much to pay but no idea when the results would be declared....sound so dodgy!!!

  61. Ravi jain : July 27, 2010 12:59 PM

    Appeal to CM of Punjab--Pl increse No of plots by ten times

    Great effort by the Punjab Govt to ease housing pressure. To curn speculation and ensure housing for all, Punjab CM will become a hero if the no of plots can be increased by ten times. Then the plots will become more affordable in secondary market.

    Even the dealers wont be blacmailing as namy more people can be accomodated while Punjab govt can get more funds for development

  62. Anonymous : July 27, 2010 5:58 PM

    I missed the train. i wants to buy immediately after draw is held. can somebody quote the price?

  63. HARJIT SINGH : July 27, 2010 6:17 PM

    HELLO MR RAVI JAIN

    I HAVE CAME TO KNOW AND ITS CONFIRMED THAT WITHIN THIS YEAR 2 MORE SUCH PLOTS SCHEMES ARE BEING LAUNCHED BY GMADA ONE IS IN MULLANPUR NEAR PGI AND OTHE RIS ON MOHALI KHARAR BYE PASS SO LOTS OF OPPOURTUNITIES YET.

  64. Anonymous : July 28, 2010 11:33 AM

    I have applied for 250 sq yrs plot If successful in draw likely in sept 2010 i plan to sell in 95 lakhs which means Rupees 65 lakhs as premium.

  65. Ravi Jain : July 28, 2010 11:37 AM

    Dear Mr Harjij

    What I meant was that since the no of applicants is about 3 lakh, and the AEROcity is a huge project , instead of launching a new scheme later this year , the Punjab govt has the right to increse or decrease the no of plots. LEt them increase the no of plots in this scheme itself by 10 times. This would be really a good step and punjab govt gets increase amount of moneey instantly to spend on roads and other infrastructure

  66. Anonymous : July 28, 2010 11:55 AM

    Need of the hour is to maintain transparency and fairness in allotment. Trust this Project will not be equated with other similar Projects. Let GMADA set the example of honesty and fair play and show path to others in the country. Thanks

  67. Aditya Kansra : July 29, 2010 2:42 AM

    Dear All,

    Its nice to see all the views posted above. To make the things clearer (leaving all the apprehensions behind. There is no scope of any more applications to be accepted or increment of number of plots from 4000.

    The ask for 95 lakhs for 250 sq yard plot is genuine enough keeping in view the current market rates.

    There are no reports available yet, be it category wise or size wise.

    I personally do not expect the appreciation to hold its value in medium term due to following factors:

    * Number of end users (amongst the applicants is less than prospective traders) hence supply will exceed demand all of a sudden leading to downfall in current market price plus different other factors will lead to mass selling (eg lack of funds with investor.
    * GMADA coming up with 2 more projects very soon one in mullanpur and other in kharar byepass, so unsuccessful investors would like to try their luck in 2nd and then further in 3rd go.

    * DLF coming up with its proposed township in mullanpur in december (omaxe launched its plots at around 14000 psqyrd initially).

    My personal advise for traders is to sell it ASAP and for prospective buyers to wait till December.

    However there is too much money in chandigarh, so u never know. I may be 100% wrong.

    Once again, best of luck to all the applicants.

    Aditya Kansra

  68. Anonymous : July 29, 2010 8:43 AM

    Good on you Aditya.Its good to see that an NRI have so much info about Chandigarh Market.

  69. Anonymous : July 29, 2010 10:56 AM

    Does anyone knows when will GMADA declare the results.

  70. Anonymous : July 29, 2010 3:28 PM

    the demand of 5 lakhs for 250 sq yard plot is not genuine as this is not a established sector like the other where the prevailing rates 0f 30000-35000 is genuine .this type of unassesible figures will disturb the grey market premium and as such middle class will not afford to possess such plot

  71. Aditya kansra : July 30, 2010 12:39 AM

    Hello there,

    To notify at first – there is no fixed date announced officially yet, neither for listing of names on web nor for the date of draw. However, I expect listing by 2nd - 3rd week of August and draw by September end.

    I guess someone has taken an offence to what I had written earlier, but not to worry my words are not a binding on anyone. In fact, thanks for your views.

    The real truth is - Here if not everyone, at least 99.99% of people exist to serve their own purpose. We all have tried our luck and expecting a jackpot. For many of us here this could be once in a lifetime offer (assuming a one has actually got a plot in the draw). Had this not been the case the number of applicants wouldn't have touched the 300K mark.

    Morally the grey market and high premiums should not happen, but in reality - it does and it will.

    Now may I ask all my friends to please advise me on a small issue I have in mind now?

    If 95 lacs is not affordable for a plot of 250 sqyrds for a middle class man (which quite rightly is true);
    How many of us here actually think that even 30 lacs (12000 bsp x 250 sqyds) is affordable (plus any other expenses that one may have to incur eg. to get a plot registered on one's name etc.) and then build a house on it (for say another 20-30 lacs)?

    I personally feel the scheme was never launched for a common man in the first place and the sad story of today is, ‘rich is getting richer and poor is getting poorer and middle one gets crushed in between’

    Thank you all for joining in. All critics and views most welcome.

    Aditya Kansra.

  72. Admin : July 30, 2010 2:03 AM

    I feel that 90% of the applicants will sell their won plots. True story!

  73. Anonymous : July 30, 2010 8:17 AM

    I will be the buyer if someone sells at genuine price

  74. Anonymous : July 30, 2010 10:48 AM

    Well said Aditya

  75. Anonymous : July 30, 2010 3:11 PM

    Well written Aditya.

    Keep sharing


    G S GILL
    LUDHIANA

  76. Anonymous : July 30, 2010 9:52 PM

    Hi All,

    Good blog. I am also an applicant in this scheme.
    I believe that this blog has views that are on both extremes(Positive as well as Negative) of reality. I believe that the number of appications is realistic considering the scope of projet and the prices would touch between 20-25K per Sq.Y. with in 6 months of draw.
    Reasons -
    a) Even if I assume 80% appications to be speculators - and only 20 % as people really interested in long term investment - it still means a ration of 15 applications for each plot.
    b)There is no clearer title than being the holder of government approved plots.
    There are many economic reasons as well.

    Good Luck to all the applicants and a big thanks to all the bloggers.

  77. john buttar : July 30, 2010 10:58 PM

    kuk du kudoon ! please don't be discrimatory against us FOWLS. No FOUL lingo here.
    CHEERIO !!

  78. Anonymous : July 31, 2010 12:01 AM

    Thanks for the info Aditya. Are you an insider or something, how do you know so much about the project?

    Can i add you as a friend on orkut?

  79. Sumeet : July 31, 2010 3:32 PM

    Aditya It seem that you have a very good knowledge about this area!! I am prospective buyer in Mohali. Unfortunately, I couldn't filled the form. I am still interested to take plot in this area. I just wanted to know what should be the good for bargain for a plot of size 200/250 Sq. yard since I am interested for that much space only.

    I know that per sq. yard price is 12k. Can someone give me some idea of any property dealer or seller to whom i can contact and what should be the nominal price for the same?

  80. Anonymous : July 31, 2010 4:21 PM

    according to u wt will the price of 300 yrds aftr th draw i wnt to buy bcoz i missed th train of aerocity mohali

  81. Raj : July 31, 2010 6:24 PM

    Let us assess genuine price likely to be immediate after declaration of draw results expected in early sept for each category of plots.

    I assess prices based on factors like prevailing high prices of plots/junk kothis in tricity, Chandigarh (250 junk kothi 3.0 Cr),Panchkula(250 junk kothi 1.5 Cr) and Mohali (250 junk kothi 1.3 Cr),area surrounding aerocity site is fully developed and work on international airport is in full swing which will attract sudden flow of IT companies to the region,therefore, developments in the proposed area will be very fast.Also, in time to come area arround International airport is expected to be prime location in the region comprised of (Tricity) Chandigarh, panchkula and mohali.

    If I take lowest rate in tricity i.e. 1.3 cr for 250 sq yrd, 52000 per sq yrd, 65% of this will be 33800 per sq yrd. At this rate calculations have been made.5% less for large size plots of 500 and 400 sq yrds.

    I feel that prices immediate on declaration of draw are likely to be somewhere as follows 500 (1.6 Cr),400(1.35 Cr),300(1.01 Cr),250(85 lakhs),200(68 lakhs)and 150(51 lakhs). ....Raj

  82. Anonymous : July 31, 2010 8:22 PM

    Well said Mr Aditya, just keep it up. Your info gives confidence to all those who have applied with their hard earned money and hope the system is fair.

  83. HARJIT SINGH : August 1, 2010 4:14 PM

    Hello aditya

    You have been a great informer and all the people on this blog are waiting for you to get us some information on the draw details and when gmada will post name son website i think you will be the first one to provide us with this information as ur hero of this blog

4 comments:

  1. Dear All,

    Thank you so much for your comments. It is overwhelming to see so many of us actually joining in and providing all of us with so much info. A big thanks to people appreciating my views.

    Dear friend (quoted above) I am not an insider by any means, had I been, you wouldn't have seen me joining a blog. Believe me or not but I it has been good 24 years since I have been to Chandigarh and that was one and the only time. But I don't mind keeping up with the world in terms of info. I am just one of you who has applied for a plot but also done a bit of R&D on the project as well.

    Yes you can find me on facebook and orkut by my full name Aditya Kansra and I shall be happy to make friends (especially supportive like you).

    @ Raj - Thanks Raj you have really good informative and calculative pricing band up here which is not far from possible reality. Quite rightly so the prices in the market will be floated at the above rates.

    @ Sumeet and all other potential buyers and sellers - Let us assess the possible market scenario after result declaration.

    Before I start, I'd like to inform everyone here that my assessments are based on assumptions so I may be 0 - 100% wrong.

    Facts associated:
    *Almost 3lac applicants for 4000 plots.
    *Most of the applications being financed by banks for the earnest money.
    *Most important factor to consider - The Letter of Intent shall be transferable after receipt of 25% of the total price of the plot.

    Assumptions:
    * 90% of applicants are not end users.
    * GMADA holds a fair draw i.e. no less than 80% plots are awarded by draw (I expect only this much to be the max possible fairness - I assume rest 20% to be pre-fixed before draw and you can well imagine who is gonna take those 20%)

    So keeping above views in mind let's say the result has actually been declared in September end and I am a prospective buyer. The prices will be floated in between 30-40 k psqyd on day 1 after allotment. But I’d suggest to buy @ 18-22 k psqyd depending upon plot size and location (smaller size = higher premium + plc if any).
    Market ask is 30-40k and I am saying buy @18-22k,which I am explaining as below:

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  2. Since most of the applicants have used banks' money to apply and assuming that even if they have opted for payment plan C and before they can actually sell their 250 sqyd plot they will have to make an arrangement of 7.5 lacs within 30 days of issue of allotment letter. So there is a time constraint for them to arrange 7.5 lacs within 30 days max. Knowing this fact the buyer should not jump into the buying market ASAP the plots become available and to increase their negotiating power at least 'do not commit to any buying deal with a token money equivalent to required sum payable before these 30 days expire'. This will add to pressure on seller to arrange for money before the period expires. Keep in mind to strike a good deal you still have to buy within first 30 days because of the constraint on seller but that doesn’t necessarily mean day 1. The best possible will be sourcing it after minimum of 15 days have expired. Because either the winner of the plot has to arrange money through a further bank loan which is not feasible for a trader (it takes time to obtain a bank loan plus cost of a bank loan for tenure of 10 years at prevailing interest rates = 68% of total sum procured) and if he is thinking of selling it later on at even double the price his margin comes down to 32% only (200-168) so he might as well sell now to reap whatever he can. ‘Plus there is a clause of mandatory construction within 3 years of possession’ and if the investor is not the end user why should he obtain a loan for 10 years (plus affordability factor).

    And then down the line there are further more govt schemes of allotment coming up in Mullanpur and Kharar byepass to slow the resale market as well as bring the prices down.

    Assuming the next GMADA scheme for Mullanpur is in December one can again try after scheme is launched as it is all the game of supply and demand. BUT the prices at that time won’t be the same as on say after 15-20 days of allotment as this will be period of rush for sellers.

    @ For all sellers I’d recommend to adopt a vice-versa policy to sell it at a higher premium.

    *note the above statements do not hold true for anyone who can afford to hold a plot beyond the first 30 days and have opted for plan C. Not worth mentioning people who prefer to buy on cash, of course they dictate their own terms and have no obligations apart from selling it in about 30 months period if they are not end users.

    For sellers who do not wish to construct, sell it after 6-12 months but within first 30 months to fetch the highest return on investment possible with due regards to time scale. Coz by the time, the availability once again will saturate and demand will exceed the supply. (DLF plots and next 2 govt schemes

    With regards to future prospects of the project, I do not doubt the possible northwards movement of prices in this area due to up-gradation of Airport. Also worth mentioning is the fact that Mohali is the most well planned city of Punjab and next to Chandigarh – the city of people with money.

    Personally I’d like to buy at 18-22k ASAP and wish to sell at about 45-55k in about 12-24 months.

    Please correct me if I am wrong. Once again thank you all.
    Critics and views / comments most welcome.

    Reagrds.

    Aditya Kansra.

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  3. can anyone know teh draw date of gmada plot

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  4. is there any update on the subject...its been quite some time now from the last update.

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