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Dues unpaid, GMADA shuts down two mega pvt projects in Mohali
GMADA cancels allotments of World Trade Center and Beverly Golf Avenue sites in Mohali; developers can appeal decision
Acting against non-payment of outstanding dues, the Greater Mohali Area Development Authority (GMADA) has cancelled the allotment of two sites where mega private projects World Trade Center Chandigarh and Beverly Golf Avenue were coming up since 2015.
According to GMADA officials, the action has been taken under the provisions of the Punjab Regional and Town Planning and Development (PRTPD) Act, 1995.
The 8-acre plot for World Trade Center (WTC) Chandigarh was auctioned to WTC Noida Development Company Pvt Ltd, WTC Chandigarh Development Company Pvt Ltd and Erika Fracon India Pvt Ltd in July 2015.
However, nearly eight years on, the companies have yet to pay around ₹103 crore of the final bidding amount of ₹131.33 crore. Located in Block D, Aerocity, Mohali, WTC was touted as a mega commercial project, offering eight multiplex screens, retail showrooms, offices, food court and serviced apartments.
Similarly, M/s MB Infra Build Pvt Ltd had purchased a 7.12-acre site at Sector 65 in August 2015 to develop Beverly Golf Avenue near the Mohali Golf Range.
But the developer has failed to pay ₹80 crore of the final bidding amount of ₹133.19 crore. The project comprised luxury housing, penthouse apartments, club house and sports centre.
Amrinder Singh, executive officer, Housing, GMADA, said, “The action has been taken as the companies did not comply with the terms and conditions of the allotment. However, they can file an appeal against the order before the GMADA chief administrator.”
Khushdil Sandhu, executive officer, Plots, GMADA, said the WTC developers had already been given two opportunities to file their representations. “But they still failed to submit the dues. After exhausting all options, GMADA was forced to take action as per the PRTPD Act,” Sandhu said.
In a circular issued on Thursday, GMADA has cautioned the public not to indulge in any sale/purchase/transaction in respect of any property in these two projects, adding that it will not be responsible in any manner for these dealings.
Representatives of both developers could not be contacted for comments.
Just a month ago, GMADA had earned a record ₹1,935.8 crore from the auction of 47 properties on March 8. These included six group housing sites, one school site, one hotel site, one nursing home site, nine IT industrial plots, two commercial sites, and 57 SCOs and booths, located in Aerocity, Sector 83 Alpha, Sector 66 Beta, IT City, Sector 101 Alpha, among others.
