Bringing cheer to city residents, the Greater Mohali Area Development Authority (GMADA) is all set to launch an affordable housing scheme after a decade.
Targeting the middle-income group, the GMADA has got in-principle approval to construct about 10,000 flats in a phased manner. The scheme would be announced any time soon. In the first phase, which will be launched by the end of this year, about 2,000 flats will be constructed. The housing complex would include one, two and three bedroom flats.
GMADA chief administrator AK Sinha said, “The project has been launched keeping in mind the middle-income group and the trend of flats is catching up now. The project has been approved by Punjab deputy chief minister and GMADA co-chairman Sukhbir Singh Badal.”
“The GMADA has own land in different sectors and we have shortlisted the same. The project would be made public soon,” Sinha said.
Officials said the project would start in Sector 65 and 66 by the end of this year where GMADA has about 20 acres of land. On one acre, about 100 flats can be constructed and in one bedroom category the number can go up to even 125 flats, they informed.
In this first phase, about 2,000 flats will be constructed. Later, flats will also be constructed at Sector 70, Balongi and near the Mohali railway station where the GMADA has its own land.
About the price range, the officials said a two-bed room flat would be between Rs 26-30 lakh.
The prices, however, will be finalised once the scheme is all prepared.
“There is no denying the fact that the property market is undergoing recession. But then there are people who need a house. Those who don’t own a house will definitely come forward to apply for this project,” Sinha said.