Saturday, October 22, 2011

Advice for GMADA Eco City -Mullanpur, New Chandigarh

Our recommendation for GMADA Eco City is : Susbcribe.

Projects like Omaxe & DLF are already selling plots in the range of 25,000 to 30,000 per square yard, while GMADA is offering plots in range of 15000 (for smaller plots) to 19000 (for larger plots) per square yard.

That translates into a benefit of minimum Rs. 10 Lacs on a 100 Sq.Yd. plot  and Rs. 30 Lacs on one kanal (500 Sq. Yd.).
However, number of applications is likely to be very high keeping in view that many banks are financing the earnest money for a minimal cost. (Rs. 4500 only for  100 Sq.Yd. plot). This step of banks has turned this scheme into a lottery, so your luck is going to play a major role.
Do carefully see the terms and conditions as you'll need to furnish at least three proofs of residence in Punjab for last 5 years.

All the best.

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