GMADA allots ₹83 crore for development of Pearl City’s Sectors 100, 104 in Mohali
The fate of the allottees had been hanging in the balance since 2014, after its chairman-cum-managing director Nirmal Singh Bhangoo was booked by the Central Bureau of Investigation in a ₹45,000-crore Ponzi scam.
The 1,300 allottees of the Pearl City project covering Sectors 100 and 104 of Mohali can now heave a sigh of relief as the Greater Mohali Area Development Authority (GMADA) has finally prepared estimates of around ₹83 crore for internal development works in the two sectors.
The fate of the allottees had been hanging in the balance since 2014, after its chairman-cum-managing director Nirmal Singh Bhangoo was booked by the Central Bureau of Investigation (CBI) in a ₹45,000-crore Ponzi scam.
The CBI had also attached all properties of Pearls Agrotech Corporation Limited (PACL), including the mega housing project launched in 2006. After that the Supreme Court had tasked GMADA to develop the society.
Around 160 families reside in both the sectors spread over 450 acres, where people have invested around ₹600 crore in plots. Yet these sectors neither have a sewerage system, nor proper roads, nor streetlights.
BUDGET TO BE SUBMITTED IN SC SOON
A senior GMADA official said, “We have prepared a budget of ₹83 crore for the internal development of both the sectors. The budget will be submitted in the apex court soon.”
On March 4 this year, acting on the petition filed by the Pearl City Mohali Residents’ Welfare Association, the apex court had directed GMADA to prepare a detailed estimate plan for internal development works in the two sectors. During the hearing, the court also asked GMADA to submit details of members with pending payments and other related documents.
Internal development comprises construction of internal roads, laying of sewerage lines, landscaping, electrification, construction of a sewage treatment plant and water supply lines.
Association president Kulbir Singh Sidhu said: “We are hopeful that GMADA will soon start the internal development works of both sectors.”
In February this year, GMADA had filed an affidavit in the apex court, stating that it is ready to do internal development works if the Lodha Committee provides them the funds. Following this, the court had directed GMADA to prepare detailed estimates and submit the report within a month.