Punjab pushes 500-acre townships in Mohali

    Punjab pushes 500-acre townships in Mohali
    Decks have been cleared for a new Township-cum-Aerotropolis, spread over 500 acres close to the Mohali International airport where it will offer a mix of residential and commercial plots, additional chief secretary, housing and urban development-cum-financial commissioner, Vini Mahajan said that a large chunk of the developed land will go back to farmers depending on the land use they opt for. Aerotropolis is in line with other project like Eco City, Aero City and IT City in the region but will be spread over a much larger area. The response to land pooling has been encouraging so far and new elements have been incorporated to make the scheme attractive for land owners. The exercise will be carried out in a phased manner. For acquisition of four kanals, the original land owner will get the option to either have a 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. In times to come, the surrounding area will be turned into a hub of economic activity due to better scope for cargo service, car rentals, hotels and retail business, among others.
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