Cash-rich GMADA

Hindustan Times (Chandigarh) - Live - - EDUCATION -

Giv­ing landown­ers in and around the town a rea­son to cheer, Greater Mo­hali Area De­vel­op­ment Au­thor­ity (GMADA) of­fered com­pen­sa­tion of Rs 1.69 crore per acre to farm­ers whose land was ac­quired for the de­vel­op­ment of Sec­tors 88 and 89. The au­thor­ity plans to con­struct 13 to 15-floor high apart­ment build­ings in the area. Apart from this, GMADA auc­tioned com­mer­cial and res­i­den­tial prop­er­ties this year. The high­est bid for a res­i­den­tial plot was Rs 4.60 crore for a one kanal plot in Sec­tor 71. Among com­mer­cial prop­er­ties, an SCO fetched the high­est bid of Rs 5.94 crore. GMADA also rolled out its Eco-city project in Mul­lan­pur.

The year ended with GMADA an­nounc­ing com­pen­sa­tions for its soon-to-be-launched Medic­ity and IT City projects.

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