Eco City is being developed by GMADA, North of Chandigarh in the Greater Mohali Region in New Chandigarh (Mullanpur). New Chandigarh is master planned as a spread out, low population density settlement for 400,000 persons eventually, with only 100 persons inhabiting an acre. Set in the picturesque backdrop of Shivalik Hills at 6 KM from Madhya Marg Chandigarh, Eco City promises to be a spacious, calm abode promoting health, creativity and prosperity of its inhabitants.
Plot Sizes & Allotment Prices in ECOCITY
The various plot sizes available in GMADA Eco City Projects alongwith their Allotment prices are as follow:
| S.No. |
Plot Size |
Allotment Price |
| 1. |
100 |
15,000/- Per Square Yard |
| 2. |
200 |
17,000/- Per Square Yard |
| 3. |
300 |
18,000/- Per Square Yard |
| 4. |
400 |
19,000/- Per Square Yard |
| 5. |
500 |
19,000/- Per Square Yard |
PAYMENT SCHEDULE
30% of the Tentative Price (minus the Earnest Money paid) shall be payable within One month of issue of LOI (Letter of Intent), Delays up to 30 days may be condoned with 2% penalty, up to 60 days with 3% penalty and up to 90 days with 5% penalty on prior written request. Balance 70% of the tentative price would be payable as per either of the payment plans.
PLAN A: Allottee can opt to pay the balance 65% of the tentative price within 60 days of the issue of LOI with a rebate of 5% on the balance amount payable.
PLAN B: Balance 65% of the tentative price can be paid @ 12% interest in 6 half yearly installments from the date of the issue of LOI.
*Balance 5% amount shall be payable within 30 days of the issue of allotment letter.
PLC: All corner and park/play area facing plots will be charged 10% extra price. Plots with both the features will be charged 15% extra.
Ownership and Possession
- Allotments shall be on free hold basis.
- Possession of plot shall be handed over to the Allottee after completion of development works at site in a period of 30 months from the date of issuance of Letter of Intent.
- The ownership of land shall continue to vest with Greater Mohali Area Development Authority until full payment is made of outstanding dues in respect of said plot.
- The Allottee shall be required to execute a Deed of Conveyance in prescribed format and manner within 90 days of payment of entire money. The expenses of registration and execution of Conveyance Deed shall be borne by the Allottee.
