Gmada Plots Sector 88 89 Prices
Latest Prices of Gmada Sector 88/89 Landpooling Plots
Plot Sizes and Prices
Size (in Syd)
Tentative Rate (PSY)
20′ X 45′
30′ X 60′
36′ X 75′
40′ X 90′
50′ X 90′
SCO Plot (100)
18’ X 50’
10’ X 9’
20’ X 9’
- 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.
SERVICE TAX @14%
100 @25,000 PSY
- 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.
- 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.