PUDA to develop 120 acres private land in Sec-119
In what could be a win-win situation for the Punjab Urban Planning and Development Authority (PUDA), private realty company Emaar MGF and the common man, the apex state government body for urban development will soon start work on developing 120 acres.Updated: Mar 04, 2014 10:38 IST
In what could be a win-win situation for the Punjab Urban Planning and Development Authority (PUDA), private realty company Emaar MGF and the common man, the apex state government body for urban development will soon start work on developing 120 acres (around 52 lakh square feet equivalent to six Elante Malls) in Sector 119 at Balongi village, here.
Emaar MGF owns the land adjoining the National Highway 21 that connects Chandigarh to Manali.
This will be the first time a project will be undertaken under the policy 'Land Owners Becoming Partners' notified in June 2013.
Under the policy, PUDA will develop the project, which includes leveling, earth work, roads, laying of sewerage, water supply, storm-water sewer, electrical works, streetlighting, parks, green areas etc. Later, the plots for residential and commercial purposes will be sold and 80% of the profit will go to the owner, while 20% will go to PUDA.
In a public notice, PUDA had asked for public objections giving the details of land under the scheme till February 22.
PUDA chief administrator Manvesh Singh Sidhu said: "We have signed the agreement with the developer for the 120 acres in Sector 119. Work will begin soon and this will be the first project where the new policy will be implemented."
LAND OWNERS BECOMING PARTNER
*The Authority (state government's body) will deploy its standards and expertise to develop the land at the cost of the owner as per its specifications/norms within five years of the agreement.
*The Authority will also fix the rates at which the plots, houses, institutional, commercial area etc shall be sold, in consultation with the landowners.
*Once the development works are completed and a completion certificate issued by the authority, then the owner (s) will not have any right to exit from the project.
LOCATE THE PROJECT
Sector 119 lies near the Balongi village on the National Highway 21, connecting Chandigarh to Manali. The upcoming project will also touch the Airport Road and so the Greater Mohali Area Development Authority (GMADA) has started work on the incomplete 3-km stretch of road, which will come up with a bypass road from Sector 74, SAS Nagar to the NH-21.
This is expected to be complete by October.Besides, Sector119, there are many townships like TDI, Sunny Enclave and Gillco Valley that will benefit from the bypass.
First Published: Mar 04, 2014 10:35 IST