News for Mullanpur New Chandigarh
New Chandigarh is a First Eco Town of Punjab and just Adjoining Chandigarh. Punjab Government has recently launched Eco-city, a huge Township which received an Enormous Response (in lakhs) from all the Punjab Residents.
Now just in a period of a month, GMADA has further planned to launch Medicity – A Super Specialty Hospital Care Hub, which is set to come up in 97 acres of land. The Medicity would be just 8 Km from PGI & would be counted among the best hospitals in the Country. (Indian Express dated October 30, 2011)
Agencies : New Delhi, Wed Feb 08 2012, 20:43 hrs
Omaxe Q3 net profit down 14%
Realty firm Omaxe today reported 14 per cent decline in consolidated net profit at Rs 19.31 crore for the third quarter ended December 31, against Rs 22.57 crore in the year-ago period because of lower margins.
Its consolidated income grew 30 per cent at Rs 451.81 crore, as against Rs 347.97 crore during Q3, 2010-11.
“The figures are reflective of some pressure on margins on account of high interest rates. However, operational performance has been good and we have recorded 30 per cent increase in sales over previous quarter,” Omaxe Ltd Chairman and Managing Director Rohtas Goel said in a statement.
The demand continues to remain high, especially in cities such as Lucknow, Mullanpur (New Chandigarh) and Indore, which remains our strategic market, he added.
“With the cut in CRR, RBI has signalled a shift in its policy stand. The interest rates are expected to taper off as inflation loses steam in the coming months.
“This will give the much needed boost to the real estate sector and the outlook for coming quarters points towards an encouraging trend,” Goel said.
Omaxe is currently working on 42 real estate projects – 18 integrated townships including two hi-tech townships, 14 group housing projects, 8 shopping malls and commercial complexes, and two hotel projects.
TOI 05 Jan 2012, 12:16 IST
CHANDIGARH: Acting on a petition seeking stay on cutting of a large number of trees for the widening of the road from Mullanpur-UT boundary till the T-junction of Kurali-Siswan road, the Punjab and Haryana high court on Wednesday issued a notice to the Greater Mohali Area Development Authority (GMADA) and Union ministry of forest asking them to respond to the contentions raised in the petition. The high court has also issued a notice to the DFO, Mohali and Omaxe Infrastructure and Construction Ltd that has been assigned the road widening project.
The matter reached before the high court through a Public Interest Litigation (PIL) filed by one Jeet Bhumbla.
The petitioner has sought directions to quash the sanction letter given by GMADA issued on November 23 last year whereby permission has been granted to cut 1,827 trees and 664 young plants on both sides of the road, besides 560 poles for the purpose of widening of the road from Mullanpur-UT boundary upto the T-junction of the Kurali-Siswan road. It was submitted that the said sanction is illegal and contrary to the forest laws because felling of 1,100 trees on one side of the road is avoidable. Till now 50 trees have been cut.
The PIL further informed that GMADA had awarded a contract worth Rs 70.4 crore to Omaxe Infrastructure and Construction Ltd for widening the road of the said stretch of the highway. The total length of the stretch is 8km with a proposed width of 200 feet, while three bridges on the said road are also planned.
The case would come up for further hearing on February 27.
The approved master plan for Mullanpur Local Planning Area includes several special development control regulations such as a no-development zone, special-use zone and building height control measures, in addition to the common development control parameters applicable to the whole of Greater Mohali area, under which Mullanpur falls.
Mullanpur, spread across 6123.7 hectares in 33 villages around the Chandigarh periphery, is set to be the first ‘eco-town’ in Punjab.
According to the special regulations, no building (or even a tree) can come up on any land within a 100-metre radius of the crest of the outer parapet of the Indian Air Force Mullanpur Station, which has been declared as a no-development zone.
Also, there will be no development on the land locked under the Punjab Land Preservation Act (PLPA), 1900.
The areas falling within the PLPA, as per the Union government’s notification dated November 4, 1999, have been clearly indicated in the land use master plan.
Omaxe, DLF plan it big in Mullanpur
A state-of-the-art seven-star hotel being developed by Omaxe, coming up on 25 acre land, the hotel project outlay is Rs 200 crore. The construction activity is likely to take off soon as state government has allowed change of land use.
With coming up of luxury hotel in Mullanpur, tourism potential of this area would get a boost as the master plan presents an opportunity for a well-managed eco-town environment with a variety of new and exciting developments to encourage diversified growth in tourism that balances economic growth with environmental, cultural and community values.
State government has recently approved Golden Peak Township Private Limited, a mega housing project of Omaxe with an investment of Rs 202.5 crore for development of an integrated township consisting of row housing, villas and plots over an area of 185 acre is coming up at Mullanpur.
DLF has planned to invest Rs 1,000 crore in Mullanpur for the mega township project on around 170 acre land to provide employment to 5,000 people.
To make New Chandigarh a Sport Hub too, A green signal has been given to PCA, to Construct a well planned Cricket Stadium in an area of 50 acres of land, which will include world class facilities such as inbuilt Hotel and Academy.
The Mohali cricket stadium is widely considered one of the best in the world. But the Punjab Cricket Association (PCA) is soon going to start construction of a new facility in Mullanpur village near Chandigarh.
It’ll be built on a 50-acre plot, 10 acres less than the Mohali stadium.