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AERO City GMADA
GMADA AeroCity Mohali(PUDA) , Near Upcoming International Airport Mohali,Chandigarh
GMADA Aero City Mohali is coming up with 1000 acres of mix land use development abutting 200′ wide road connecting Chandigarh International Airport

Mohali's first urban residential estate near the upcoming international airport gets its name
Scheme launched in June: Local property owners will be eligible to apply(Scheme closed on 06th July 2010 )
The Greater Mohali Area Development Authority (GMADA) has named its first residential urban estate in the vicinity of the upcoming international airport as Aero City Mohali. A total of 3,950 plots, ranging between 125 square yards (5 marla) and 500 square yards (1 kanal), will be allotted through a draw of lots at a reserve price of Rs 12,000 per square yard (Rs 3 lakh per marla).
IMPORTANT

1. The price for corner plot shall be 5% extra.
2. The price for plot facing park (100% frontage) shall be 5% extra.
3. In case both the above (1 & 2)apply, the price shall be 10% extra.
4. 5% rebate on the price shall be given to applicants under physicaly handicapped quota.
5. Reservation of plots for reserved categories shall be maintained as per punjab Government Policy.
TERMS & CONDITIONS FOR GMADA AERO CITY MOHALI
1. 10% of the plot price is to be deposited along with the application.
2. 15 % of the plot price is payable within 30 days from the date of issueof Latter of intent (LOI).
3. 5% price + extraprice (on account of corner or facing park or both + assitional price, if any) is payable at the time of delivery of possession.
4. Remaining 70% would be payable as per the payment plans given aside (Plan A, B & C).
After Draw Plots are available on resale on Premium
Payment Plans for GMADA AERO CITY MOHALI
Plan A: If the allottee deposits the balance 70% price in liump sum within 60days of the date of allocation letter/Letter og intent, 10% rebate shall be allowed.
Plan B: Allotment are entitled to pay 70% of the amount without interest in seven bi-monthly equated installment from the date of issue allocation letter/Letter on Intent.
Plan C: Allotteesare entittled to Pay 70%of the amount along with interest @ 10% p.a. payable half yearly, in 7 half yearly instalments from the date of allocation letter/Letter on Intent.
Note: If an allottes under plans B & C make the payment in lump sum at any time, rebate@5% shall be allowed on the balance outstandingprincipal amount.
ELIGIBILITY CRITERIA FOR GMADA AEROCITY MOHALI
1. Must be a citizen of India.
2. Must have atlained the age of majority i.e. 18 yearsas on date of submission od application.
3. The applicant himself/herself or any member of his/her family sould not own any residential plot/house/flat alloted by any Government Agency at SAS Nagar. This means that the person who has purchased plot/flat/house by way auction or re-sale is eligible for applying the plot in this scheme. The family meanshusband, wife andminor children (less than 18 years of age).
HOW TO APPLY FOR GMADA AEROCITY MOHALI
affix a self attested passport size photograph in the application form attached with brouchure and the same should be submitted to any of the banks mentioned below, either in person or by post on or before th closing date. Application should be accompanied with earnest monry in the form of banker's cheque/pay order/draft in favor of Estate Officer, GMADA, Mohali payable at the station where the application is sought to be submitted. Application found incomplete or defective in any respect or not duly signed by the applicant is liable to be rejected.
With 12 different public and private sector banks empaneled for the sale of brochures and receipt of application forms, the scheme would be launched in the first week of June, said GMADA Chief Administrator (CA) Vivek Partap Singh. He attributed the delay to several changes made in the terms and conditions of the policy, which was last formulated a decade ago when Mohali's last residential urban estate was developed in Sector 76-80