Gmada Plots Sector 88 89 Prices

Latest Prices of Gmada Sector 88/89 Landpooling Plots

 

Plot Sizes and Prices

Size (in Syd)

Dimensions (feet)

Tentative Rate (PSY)

100

20′ X 45′

28000

200

30′ X 60′

26000

300

36′ X 75′

24500

400

40′ X 90′

22000

500

50′ X 90′

21000

SCO Plot (100)

18’ X 50’

103000

Booth (10)

10’ X 9’

12500

Booth (20)

20’ X 9’

12000

 

Transfer Details

  • Circle Rate: 25000/- PSY for Residential Plots, Rs. 1-Lakh PSY for Commercial Plots.
  • Transfer Charges:2.5% of the circle rate of Rs. 3328/- for residential and 6656/- for commercial plots along with Service Tax @14.5% on both. 

         SIZE

TOTAL RATE

TRANSFER FEE

PROCESSING FEE

SERVICE TAX @14%

TOTAL AMOUNT

100 @25,000 PSY

25,00,000

62,500

3,328

9,546

75,380

200

50,00,000

1,25,000

3,328

18,608

1,46,940

300

75,00,000

1,87,500

3,328

27,671

2,18,500

400

1,00,00,000

2,50,000

3,328

36,733

2,90,070

500

1,25,00,000

3,12,500

3,328

45,796

3,61,810

SCO-100 @100000-PSY

100,00,000

2,50,000

6,655

35,932

2,92,590

BOOTH-20

20,00,000

50,000

6,655

7,931

64,590

BOOTH-10

10,00,000

25,000

6,655

4,432

36,090

 

Overview

  • Sector 88-89 are developed by GMADA itself
  • Plots allocated by GMADA to farmers under Land Pooling Scheme against their Land acquired
  • Allocation of plots is done through LOI (Letter of Intent), which is transferable.
  • Available Sizes of Residential Plots are 100-200-300-400-500 Square Yards.
  • Development work for Sector dividing roads has already been started.
  • Mohali’s 1st Sectors planned on Chandigarh’s Sector Plan i.e. divided into 4-parts A, B, C & D.
  • Highest Green Area reserved for Parks and Green Belts i.e. 9% (approx) as compared to 5-6% in other sectors of Mohali. 
  • GMADA has already start offering Possession of 1200 Apartments in Purab Premium Apartment 
  • Already connected through road network with School, Hospital, Market & Gurdwaras in vicinity. 

 

Quick Look: Property & Transaction Attributes

A). Ownership Documents

  • Letter of Intent (LOI) provided by GMADA. 

 

B). Loan Availabilty

  • Bank Loan is available with Collateral (Secondary) Property, located anywhere in India. However, rate of interest charged on disbursement shall be of Homeloan only.

 

C). Possession Status

  • Development of Sector dividing road is awarded to Ek-omkar and on ground work started already. Tender of internal roads and basic amenities shall be awarded with in next 2-3 months. Possession of plots is expected by June 2017.  

 

D). Transfer Procedure

  • At the time of Full & Final Payment, Standard prescribed format as provided by GMADA get signed by both Seller & Purchaser submitted in GMADA Office alongwith Original LOI and Snaps+ID+Address Proofs of both parties. GMADA issued new Original LOI to purchaser within 30 days from date of submission.

 

E). Construction Clause after Possession

  • GMADA provides 3 years time to construct the Property after possession is handed over. After 3 years, Minimum 25% construction of the covered area of Ground Floor is required else Extension Penalty is charged, which is tentatively 1 – 2.5% of Collectoral rate of property.

 

Highlights

  • Attractive PriceRange of residential plots as compare to nearby inhabited Sectors of Mohali.
  • Sector 71located just 1.2 KM, has a price range of Rs. 60000/- to Rs. 65000/- PSY.
  • Sector 77located just opposite, has price range of Rs. 35000/- to Rs. 50000/- PSY.
  • Sector 90-91located adjoining, has a price range of Rs. 32000/- to Rs. 40000/- PSY.
  • District Administration & Court Complex (DAC Complex) located across the road, where Mohali Court has already been shifted & operational.
  • Preferred Area of Govt Employees as various Government Departments (DC Office, SSP Office etc) shall be shifting in DAC Complex soon.