In a major boost to Greater Mohali Area Development Authority’s (GMADA) Aerotropolis project, around 90% of the landowners in the earmarked area have applied for land pooling.
An extension of Aerocity, Aerotropolis is the seventh independent township being developed by GMADA on over 5,400 acres on both sides of the Zirakpur-Banur road.
Delhi-based Architecture Studio has been hired to develop the project, located in the vicinity of Chandigarh International Airport, and work is likely to begin in a month.
Through the land pooling scheme, owners will be provided residential or commercial plots instead of monetary compensation in lieu of their land.
Through an amendment in the land pooling policy in August last year, the Punjab government had decided to give 1,000 square yards of developed residential plots and 200 square yards of commercial plots, excluding parking, instead of cash compensation for every 1 acre of land acquired from land owners for Aerotropolis. Earlier, the size of the commercial plot allotted was 121 square yards.
A senior GMADA officer said there was a good response to the scheme and they will be issuing letters of intent (LoI) to the owners in August.
GMADA had announced land compensation for 1,600 acres in 11 villages in February this year. While 1,400 acres are privately owned, the remaining are panchayat land.
{{/usCountry}}GMADA had announced land compensation for 1,600 acres in 11 villages in February this year. While 1,400 acres are privately owned, the remaining are panchayat land.
{{/usCountry}}Owners of around 1,300 of the 1,400 acres have applied for the scheme. Land is being acquired in Bakarpur, Rurka, Safipur, Matran, Siaun, Manauli, Patton, Saini Majra, Chau Majra, Naraingarh and Chhat villages. The compensation ranges from ₹1.82 crore to ₹4 crore per acre, the highest provided by GMADA to date.