GMADA’s Aerotropolis township set for launch in May, prized at ₹33,000 per square yard

The 1,653-acre township is an extension of GMADA’s Aerocity and situated in the vicinity of Chandigarh International Airport

Greater Mohali Area Development Authority (GMADA) is all set to launch its seventh independent township ‘Aerotropolis’ at a cost of ₹33,000 per square yard, in May this year.

GMADA had started the process of land acquisition for Aerotropolis in May 2017. (HT File/Representational image)

The 1,653-acre township is an extension of GMADA’s Aerocity and will comprise both residential and commercial spaces. Situated in the vicinity of Chandigarh International Airport, it will come up on both sides of the Zirakpur-Banur road. There are around 8,500 residential plots, ranging from 100 square yards to 2,000 square yards. GMADA will be developing four pockets, A, B, C, and D.

It has already issued letters of intent (LOI) for around 1,000 acres and also sent to court the cases of landlords of around 250 acres as they had got their land registered after the notification of Section 11 of the Land Acquisition Act. The Act pertains to preliminary notification for acquiring land and calling objections from landowners.

A senior GMADA official, who is associated with the project, said, “We are launching the scheme in May this year at a cost of ₹33,000 per square yard. We are hopeful that in a month’s time, the court will decide the issue of 250 acres.”

The official further said, “GMADA has already floated tenders for construction of outer roads and even the process of cutting the trees is on.”

GMADA had started the process of land acquisition for Aerotropolis in May 2017.

Of 1,653 acres, owners of 1,456 acres have applied for land pooling. Through the land pooling scheme, owners will be provided residential or commercial plots instead of monetary compensation in lieu of their land.

As per an amendment in the land pooling policy in August last year, the Punjab government has 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 one acre of land acquired from landowners for Aerotropolis. Earlier, the size of the commercial plot allotted was 121 square yards.

GMADA had announced land compensation for 1,600 acres in 11 villages in February last year. While 1,400 acres is privately owned, what remains constitutes panchayat land. The 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.

A Delhi-based architecture studio has been hired to develop the project. GMADA will be paying ₹1.70 crore to a consultant.