Four years after launching its first residential urban estate project in SAS Nagar called Aerocity, Greater Mohali Area Development Authority (GMADA) has failed to keep its promise of giving possession of plots in September 2013. Already running nine months late, the authority will take another six months to complete the work of basic amenities at the site.
Former MC councillor NK Marwaha said, “GMA DA issued letters of intent (LOI) in March 2011 and assured that allottees would get possession of plots in Se ptember 2013. Now, with just one installment left, which is due in November 2014, GMADA has not been able to complete the development work on the site. It will take another six months for completion of work.” Mohali Property Consultants Association coordination chair man Shalinder Anand said, “With increase in cost of construction, prospective allotees are suffering from huge losses not only due to increase of construction cost, but also due to the cost they are paying for rented houses in which they are living at present.”
“It is an established law that the interest on install-ments cannot be charged unless the possession of plots is given. However, in this case, LOI holders had paid the interest on all installments without getting possession of plots. This way, LOI holders suffers two-fold losses - one in increase of cost of construction, and second in amount of interest that they are paying on the loan that they have taken to pay installments,” he added. Also, there is no connectivity of the bridge connecting Sector 82 to Aerocity as work is still in pro g ress. This bridge, which was otherwise expected to be completed in a period of six months has taken more than five years.
The work is still on with a slow pace. According to sources, four contractors have left the work midway for reasons not known to the public.
However, GMADA chief administrator AK Sinha said a draw of lots for location of plots will be held in mid June. “Possession will be given after three months. Sewerage and waterpipes have been laid and construction of roads is on and will be completed within three months , ” he added.
GMADA held draw of lots for the Aerocity scheme in October 2010. Of the total 4,000 residential plots on offer at Aerocity, 626 are of 500 square ya rd size, 43 of 400 square yard, 610 of 300 square yard, 438 of 250 square yard, 720 of 200 square yard, 402 of 150 square yard and 777 plots are of 125 square yard size under various categories.