Chandigarh’s Rajiv Gandhi Technology Park aka IT Park will soon get a new look in around 123 acres of land. Last year, the Chandigarh Housing Board had taken over the land at IT Park by the Parsvnath Developers to construct the residential properties where the Habitat project is proposed to be developed. The project is speculated to begin from November this month but will begin only once the administration of Chandigarh gives a thumbs up for the construction.
E-Auction & Land Price @ IT Park (Chandigarh)
For the construction of the housing colonies, the Chandigarh Housing Board is likely to organised an auction online by mid of August. The property of Chandigarh Housing board is planning to construct houses along with swimming pool, gymnasium, community centre, club and marriage palace within the compound. As per Chandigarh’s present collector rate, the board has fixed the price of the land at Rs 74,000/ square yard, which come out to Rs 140 crore for a space spread across four acres.
The plan for the development of Chandigarh’s IT Park
The plan for the development of Chandigarh’s IT park includes a total of 20 sites out of which, Chandigarh Housing Board will construct on two sites only. These two sites will consist of 600 flats while rest of the 18 sites will be handed over to the builders via auction who will construct swimming pool and the gymnasium at every site. Also, each site is planned to have school, hospital and fire station.
Previously, the allottees of the housing board colonies who had deposited money were earlier assured of sharing the ratio of 70:30 between the Housing Board Developer and the builder. And that is why 123 acres of land were transferred to the builder, which did not kick off somehow. Thereafter, people who were allotted with the flats started asking for the refund and the case reached the court.
We now wish that the Habitat Project at Chandigarh’s IT Park soon hits the floor and the construction there gets going on full swing. The 123 acre of land which remained barren at the IT Park, Chandigarh for several years have now seen a silver lining in the dark cloud.
Source: Hindustan Times