The new minister for urban planning and housing, Tripat Rajinder Singh Bajwa, was briefed about the go-ahead nod given by the Council of Ministers in the review meeting that took place in Chandigarh some time ago. This township will be known as, Aerotropolis, and will spread over 5,000 acres near to the Mohali International airport.
According to an official, the concept behind setting up a city in close proximity with the Mohali International Airport is to offer planned urbanization in the locality that is witnessing a rise in demand for both residential and commercial space. Thus, the Government is going to provide both, residential and commercial plots here.
The commencement of the land pooling scheme took place and the landowners in the specific region/area have been notified about the same. According to land pooling, the owners will get back a huge piece of land which they can develop as per their choice. This city is likely to have various projects such as Eco City, Aero City and IT City. The development of this area is proposed to take place in a phased manner as the land pooling scheme is receiving a positive response from the investors at large.
Gmada – Greater Mohali Area Development Authority is prepared with a project plan about urban planning for the area with reference to both, the landowners and farmers. The landowners can choose between 400 sq. yard residential site and 100 sq. yard shop-cum-office site with floor area ratio (FAR) of 1:3 and basement or a 500 sq. yard residential site and 60 sq. yard shop site with FAR 1:2.
New Chandigarh will be acquiring 560 acres of land by the end of this year out of which more than 272 acres of the acquired land will be used for the building of residential projects.