Failure fails to flatten GMADA will; to launch another scheme | chandigarh | Hindustan Times
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Failure fails to flatten GMADA will; to launch another scheme

Even as applicants who were successful in the draw of lots for Purab Apartments promoted by Greater Mohali Area Development Authority (GMADA) have apparently lost interest and continue to withdraw, , the government body is gearing up to launch its premium Golf Apartments scheme.

chandigarh Updated: Jun 17, 2012 12:37 IST
Shailee Dogra

Even as applicants who were successful in the draw of lots for Purab Apartments promoted by Greater Mohali Area Development Authority (GMADA) have apparently lost interest and continue to withdraw, , the government body is gearing up to launch its premium Golf Apartments scheme.

GMADA authorities are busy giving final shape to the Purab Apartments scheme and are in the process of floating tenders. Though officials were not willing to speak on record, they attributed the failure of Purab Appartments scheme to "negative propaganda" by a few realtors.

For the first time, GMADA had offered built-up Purab Apartments in upcoming sectors 88 and 89 instead of offering plots. Officials said that they have received 1,785 applications from the successful persons opting to surrender and seek refunds till date. Category-wise, GMADA till now has about 370 applicants for one-BHK flats, 760 applicants for two-BHK and 650 applicants for three-BHK flats.

"The area is not ready for apartments at such high rates. Investors are shying away owing to the clause barring further sale which is one of the major reasons why the scheme did not attract any investor," said Shalinder Anand, a property consultant based in SAS Nagar.

"Even though the authority is claiming that these apartment are for the end-users, their price is too high. Salaried people cannot afford apartments at such high rates," said Kanika Sharma, a software professional.