Chandigarh Property Blog

Property Market in sleep mode due to elections

2012-02-17T21:26:00.000-08:00

There has been a significant impact on business transactions in the real estate market in Punjab because of heavy seizure of unaccounted cash on the directions of EC last month.

Till December, 2011, the collection from stamp duty and registration fee stood at Rs 2,349 crore.

Property experts pointed out that in the wake of sluggish market conditions, it would be tough for Punjab to collect Rs 550 crore in three months (January till March) to meet revenue collection target.

During the last fiscal, Punjab failed to meet the revenue collection of Rs 2,300 crore from stamp duty and registration fee with actual collections reaching about Rs 2,200 crore.

Confiscation of huge amount of unaccounted cash by surveillance teams to curb misuse of money power in Punjab elections had almost paralysed the real estate market, with buyers refraining from entering into any business deals.

Seizure of cash ahead of elections in Punjab hit the property market hard because people were scared of making any investment. There was hardly any property transaction taking place in the month of January.

Even after the polls that were held on January 30, things have not improved for the real estate sector as majority of investors, including NRI's still not committing investments until next state government comes in.

Property investors are waiting for the formation of new state government before putting in their money into real estate projects.

Spiralling interest rates coupled with slackening demand for property has already made a significant dent on property market in Punjab, with sales prices of real estate products dipping by 15-20 per cent in the past six-seven months, property experts said.

Part of the Dream Weave Walk Network 1998-2012

Property Tax in Chandigarh

2012-02-17T21:22:00.000-08:00

The Municipal Corporation, Chandigarh is planning to impose house tax in the city. It has also sought sanction from the administration on the proposal of imposing house tax and plans to revise commercial property tax in the house meeting of February 16.

A memorandum of understanding was signed in year 2006 amongst Municipal Corporation, UT administration and Jawaharlal Nehru National Urban Renewal Mission (JNNRUM) according to which the authorities were suppose to hike the water tariffs and a minimum house tax was to be collected for the ongoing development projects.

The MC is planning to impose the house tax and generate more revenues for their departments rather than depending upon the grants sanctioned by the administration.

The commercial property tax levied in the year 2004 which was due for revision in the year 2007 has not been revised by the authorities till date. The authorities are planning to increase the commercial tax to generate revenue for the various departments of Chandigarh administration. As per the sources, the house tax levied by the authorities may amount to 1% of the value of the house.

Part of the Dream Weave Walk Network 1998-2012

Chandigarh:High rise in Northern Sectors

2012-02-17T21:10:00.000-08:00

The face of the northern sectors could soon change with the UT architecture department finalizing the nitty-gritty of Apartment Act, which is proposed to be introduced for redensification of the first phase of the city. The master plan committee is studying the commercial and legal repercussions of the move and whether it would actually result in moving in more families in sectors 1-30 with division of sprawling houses. A panel member confirmed that the Act was under active consideration. The idea is to rule out any pitfalls like apartments not have separate kitchens, which would defeat the purpose. There are several kanal houses in sectors 1-15 which have only an old couple living with servants. Their children settled in bigger cities or abroad would be keen to go in for change of land use. The committee is of the view that since three storeys are already allowed in city, redensification of houses would not violate the height control restrictions. The Apartment Act has been hotly debated in the city. Division within family is a scenario to which there is near consensus. f the owner of a three storyed housepasses it on to three heirs and they decide to divide one floor each and have it registered separately.But if somebody has a plot (as in Delhi), gives it to a builder to construct eight floors, half of which he keeps and rest are sold, it could spoil the face of the city. The architecture department has taken the plea that Corbusier had made a case for redensification in the first phase. In a note believed to have been written in April 1964, Corbusier had made a brief reference, "At some point in time, there will be a need for redensification of the first phasea...¦" It was in 2003 that UT allowed redensification for bifurcation of larger plots in the first phase of Chandigarh for construction of flats, which became a serious cause of concern. Later, a delegation met Sonia Gandhi in 2006 that the proposal was dropped. Part of the Dream Weave Walk Network 1998-2012

GMAA Sector 88 Flats:Low Demand -assured allotementt

2012-01-12T17:45:00.001-08:00

Perhaps for the first time in the history of Tricity, applicants for upmarket flats being constructed by a government agency can hope of an almost assured allotment. Greater Mohali Area Development Authority's (GMADA) Purab Premium Apartments at Sector 88 in Mohali, has received over 3,000 applications till Thursday evening. The scheme for these 4,500 freehold apartments had opened on December 12. It was initially scheduled to close on Thursday. The last date of application for these flats has now been extended to January 21. GMADA officials expect about 2,500 more applicants over the next nine days. GMADA has specified that there shall be a bar on sale of the apartment till two years after handing over of possession, or five years from date of issuance of Letter of Intent (LOI), whichever is earlier. The GMADA official said that a five-year lock-in clause was introduced deliberately so that end users are able to benefit from the housing scheme, “Our mandate is not profit. Almost 80 per cent of the price of these flats is the cost of construction and land acquisition. We did not want speculative investors to edge out the applicants who are seeking premier accommodation in the Tricity at affordable rates," said the official. Part of the Dream Weave Walk Network 1998-2012

GMADA Regional Plan:Plan Document and Map

2012-01-08T09:46:00.001-08:00

Gmada Regional Plan:Plan Document and Map

Plan Document of GMADA Regional Plan

Map of GMADA Regional Plan

Part of the Dream Weave Walk Network 1998-2012

Banur:Masterplan Document and Map

2012-01-08T09:44:00.001-08:00

Banur:Masterplan Document and Map

Banur:Masterplan Map

Banur:Masterplan Document

Part of the Dream Weave Walk Network 1998-2012

Zirakpur:Masterplan Document and map

2012-01-08T09:43:00.000-08:00

Zirakpur:Masterplan Document and map

Zirakpur Masterplan Document

Map of Zirakpur Masterplan

Part of the Dream Weave Walk Network 1998-2012

SAS Nagar-Mohali:Masterplan Document and map

2012-01-08T09:41:00.000-08:00

SAS Nagar-Mohali:Masterplan Document and map

SAS Nagar-Mohali:Masterplan Document

Map of SAS Nagar-Mohali Masterplan

Part of the Dream Weave Walk Network 1998-2012

Kharar MasterPlan:Plan Document and Map

2012-01-08T09:38:00.000-08:00

Kharar MasterPlan:Plan Document and Map

Kharar Master Plan Document

Kharar Master Plan Map

Part of the Dream Weave Walk Network 1998-2012

Mullanpur Master Plan:Report of Jurrong International

2012-01-08T09:29:00.000-08:00

Access the complete report on perspective plan of Mullanpur for year 2031 and year 2056

Mullanpur Perspective plan 2031 and 2056

Mullanpur Masterplan Map

Part of the Dream Weave Walk Network 1998-2012

Collector Rates 2011

2012-01-08T07:46:00.000-08:00

Find here collector rates of both urban and rural areas of Mohali, Dera Bassi, Kharar and Majri Areas. These are the latest rates applicable since 2011.

Mohali Subdivision

Kharar Subdivision

Majri SubTehsil

Dera bassi Subdivision

Part of the Dream Weave Walk Network 1998-2012

Property market to be sluggish till Panjab Elections

2012-01-05T08:19:00.000-08:00

The real estate sector in Punjab is likely to witness sluggishness in the run up to Assembly elections in the state next month, with investors expected to adopt a wait-and-watch policy with regard to new investments till the next state government comes to power, say experts. The maximum impact of the upcoming elections is expected to be visible in new and upcoming residential projects, which still require statutory approvals from various government authorities to take off, as investors and financiers will be reluctant to infuse money into these projects in the wake of the Code of Conduct coming into force, real estate experts said. Non-Resident Indians (NRIs), who are among the key players in the real estate sector, also stay away from the property market till the next government comes in.NRIs will refrain from buying new properties in Punjab until the new state government is formed. Part of the Dream Weave Walk Network 1998-2012

HC notice for Mullanpur-Siswan road

2012-01-05T08:15:00.000-08:00

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. Part of the Dream Weave Walk Network 1998-2012

Eco City draw of lots

2011-12-23T01:56:00.000-08:00

The draw of lots for the Greater Mohali Area Development Authority’s (GMADA) Eco City residential project in Mullanpur passed of smoothly on Monday. For the first time, the draw for 870 plots of various sizes was conducted at three separate places simultaneously. In an another first, the authority also gave out the plot number, street number and the block number to the successful candidates through draw of lots at the venue itself. In order to save time and manage the draw in a better manner,GMADA held three separate draw of lots inside the ground under the close supervision of senior GMADA officials. The draw for 100-sq yard plots was held separately as the maximum number of applicants had applied for this category. The draw for 200- and 400-sq yard plots was held together at one venue. The result of 300- and 500-sq yard plots were held at another venue. The draw had a large number of aspirants making a beeline towards the three venues set up inside the ground adjoining PUDA headquarters since morning. Part of the Dream Weave Walk Network 1998-2012

Metro link Chandigarh

2011-12-23T01:54:00.000-08:00

After over five decades of its creation, Chandigarh — epitome of planning and architecture, designed by French architect Le Corbusier — is under the threat of losing its splendour and beauty if the Metro rail project makes its way through the city. With the project gaining momentum day by day in Chandigarh, the city’s planners and environmentalists are up in arms against it. In its attempt to bring in a Metro link between Chandigarh and satellite towns Panchkula and Mohali, the UT Administration will not be able to maintain the uniqueness of the City Beautiful, according to urban planners. Project votaries claim it is the only solution to the ever-increasing traffic and pollution but they also admit that it poses an environmental threat for Chandigarh. Delhi Metro Rail Corporation (DMRC) has been conferred with the task to prepare a detailed project report (DPR). A high-powered committee constituted by the Union Ministry of Urban Development in 2007 had suggested surface transport as the preferred mass rapid transport system and viable means of public transportation, against the Metro or monorail in the city. But this has apparently been overlooked as soil testing is being done for the Metro. According to senior architects, the Metro would undermine the aesthetics and character of the City Beautiful, particularly in its core areas — Madhya Marg and Himalaya Marg. There are doubts about its flexibility and limited capacity to be used as a city-wide system, along with its high cost. For the underground stretches, roads will be ploughed and trees cut down. There would be a need to create parking spaces but alas, there is no space. Also, the DMRC team has encountered water table quite high — at just 3.5 metres below the surface — during soil testing. De-watering would be required, which is an uphill task. Funding of Rs 15,000 crore by the three stakeholders — Chandigarh, Punjab and Haryana — is also another hurdle. At present, Punjab and Haryana Governments are sharing 25 per cent cost each, while 50 per cent is being borne by the UT Administration, out of the total amount of Rs 3 crore. DMRC has proposed two corridors in the first phase. The east-west corridor will start from Sector 21 Panchkula and lead to Railway Station Chandigarh, Sector 17 Plaza, PGIMER, Sarangpur, up to Mullanpur. En route, the Metro will also pass through Sectors 12, 12A, 11, 14, 15, 10, 9, 8, 7, 6 and 5. The north-south corridor will start from the Secretariat to culminate at Aerocity in Mohali, via Rock Garden, Sector 9, Aroma Chowk, Sector 43, Sector 52 (Mohali), Sector 72 (Mohali) —- with a total length of 14 km (underground 8.7 km and elevated 5.3 km). The DMRC team has proposed that the elevated portion will roughly have stations every 1 km and in underground portion, at an average 1.2 km. Also, it is expected to stay underground in the sectoral grid. Part of the Dream Weave Walk Network 1998-2012

DLF Hyde Park @32,000/- in New Chandigarh

2011-12-23T01:50:00.000-08:00

Having tested Tricity real estate waters some months earlier with the launch of the initial phase of Hyde Park Estate residential project in Mullanpur, and claimed that all 800 plots were sold out within a matter of days, real estate major DLF recently launched around 500 more plots of 350 and 500 square yards as an extension of the estate. However, the reserve price, which was at Rs 27,000 per square yard earlier, has now been hiked up to Rs 32,000 per square yard. DLF India have enhanced the base price to Rs 32,000 from Rs 27,000 the real estate market here is not very volatile and the new price is quite competitive as compared to other real estate ventures. Persons who had bought plots earlier would also benefit from the new price as the rates of their plots would also see a rise. DLF would be able to accommodate around 500 more plots of the dimension of 350square yards and 500square yards. Part of the Dream Weave Walk Network 1998-2012

Medicity project :Compensation @ Rs 1.46 crore per acre

2011-12-23T01:47:00.000-08:00

The Punjab Government, announced compensation of Rs 1.46 crore per acre for the land to be acquired from the farmers for the Medicity project coming up in close vicinity of Mullanpur and close to Chandigarh. Sources said that land acquisition collector of Greater Mohali Area Development Authority announced the award of Rs 1.46 crore per acre per, the further break-up is Rs 96.03 lakh per acre basic price, 30 per cent solatiam that is Rs 28.80 lakh, 12 per cent appreciation price that is another Rs 8.09 lakh and non litigation charges 10 per cent that comes to Rs 13.29 lakh. The farmers who are not interested in taking this money can opt for land pooling scheme but they will not get it in Medicity as it is only for hospitals and other health care facilities. They will be given plots of different sizes measuring 1,000 square yards (2 kanals) in addition to a commercial plot of 100 square yards per acre in Eco-City Phase I. The government has acquired 97.42 acres of land from some 100 farmers in Ferozepur Bunger village near Mullapur. It took eight months and thirteen days to acquire the land notifying from Section 4 till announcement of the award. Now the team of GMADA officials will go to the village and take physical possession of the land from the farmers. For the Eco City project, recently launched in Mullanpur, the compensation given by GMADA was Rs 1.30 crore per acre, for Aero City Rs 1.50 crore per acre and for IT City Rs 1.70 acre. Part of the Dream Weave Walk Network 1998-2012

Chandigarh-Siswan road

2011-12-23T01:45:00.000-08:00

The New Chandigarh Mega City project today got a kick start with Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal laying the foundation stone of Rs. 325 crore Chandigarh-Siswan road, that besides shortening the distance to Baddi in Himachal Pradesh would emerges critical road for the evolving this new city. Addressing a rally after laying the foundation stone, Mr. Sukhbir Singh Badal said that the new Chandigarh would provide quality housing besides developing world class institutional area including IT City, MediCity and world class aviation maintenance and training institute. He said that the New Chandigarh City was all set to propel the overall development of this area thereby making it a worth living place near Chandigarh with world class infrastructure. He said that this 200 feet wide Chandigarh to Siswan T-junction road (8 Kms.) would be constructed 6 lane in first phase and would have three 8 lane bridges. He said that this project has been undertaken by the Omaxe Infrastructure and Construction Ltd., a world renowned infrastructure development company and it would be completed by next 16th months. Part of the Dream Weave Walk Network 1998-2012

Latest on Mohali projects

2011-12-23T01:28:00.000-08:00

Mohali is striding ahead in the Tricity in the field of urban development with major projects like Eco City Phase I and II, Medicity, Aerocity, IT City and group housing (about 6,000) flats in its kitty. Over the next few years, the Greater Mohali Area Development Authority (GMADA) is coming up with development projects planned over approximately 3,400 acres. Land acquisition for all these projects has been a smooth affair on account of the state’s lucrative policy, which has been friendly to land owners and ensured their complete cooperation. Take a look at all that GMADA has managed to acquire without causing as much as a ripple, while neighbouring Haryana is still battling land-owners in diverse areas. The highlights of Mohali’s masterplan for development are 800 acres for Aerocity, 419 acres for Eco City Phase I, 375 acres for Eco City Phase II (both at Mullanpur), 1,700 acres for IT City, 97 acres for Medicity, and 680 acres for Sectors 88 and 89.GMADA gives land owners a choice between either cash compensation or land-pooling within the project or its vicinity. The state’s winning card has been the land-pooling scheme, which makes land-owners stakeholders in the development of the area. In almost all the projects, more than 90 per cent of land-owners have rejected cash compensation ranging from Rs 1.20 crore to 1.694 crore per acre (depending on the project), and have opted for land-pooling. For each acre given by the owner, GMADA offers two residential plots measuring 500 square yards (one kanal each) or one residential plot of 1,000 square yards (two kanals) and a commercial plot measuring 100 square yards.Even for IT City, Sectors 88 and 89 where land has been freshly acquired, almost all the owners have rejected compensation of Rs 1.694 crore per acre and have chosen plots instead. Part of the Dream Weave Walk Network 1998-2012

World’s largest mall in Sector 62

2011-12-23T01:23:00.000-08:00

The Greater Mohali Area Development Authority plans to set up the world’s largest mall in Sector 62 (Phase VIII), Mohali. Currently, the largest mall in the world is in Minnesota, the USA. It is spread over 4.2 million square feet while the one in Mohali is envisaged to be spread across 5.7 million square feet. This is the Authority’s third grand design in 10 years for Mohali’s City Centre. The City Centre was first planned in the late 1990s, using the services of Gujarat architectural firm Vaastushlipa. However that plan was shelved and replaced by a detailed one submitted by Singapore-based company Jurong. None of these two plans was laid down after much expenditure saw the light of the day. It will not be difficult for GMADA to sell commercial, office and recreational space in Mohali’s City Centre, which will be connected to the airport Chandigarh through a metro.Each of the 1,400 units of office and commercial space would be sized differently depending on its use. The Use of these units be it restaurants, shops, cinemas, hotels, exhibition halls in each area would be defined. Almost 200,000 square feet of area has been kept aside for an amusement park within the mall areas. Average cost of floor space per square feet at Rs 10,000. GMADA has decided to use 76 acres of land available in Sector 62 for the setting up of the mall. The ground coverage for the mall has been fixed at not more than 35 per cent (26 acres) while another 23 acres would be set aside for the plaza area. The open parking would cover another 26 acres.Other than the open parking area, basement parking under five levels of the mall complex. Part of the Dream Weave Walk Network 1998-2012

GMADA acquires land for IT city Mohali

2011-12-23T01:21:00.000-08:00

GMADA is acquiring 1,800 acres, which would see 810 acres being used for setting up of IT industry, another 810 acres for residential areas and remaining 180 acres for commercial establishments.The Rs 1.68 crore per acre compensation is the second highest amount paid to landowners so far with GMADA already paying Rs 1.69 crore per acre as compensation to landowners whose land was acquired for carving out two new sectors a?? sectors 88 and 89 in Mohali. In IT City, the original plan of the project would see super mega IT industrial projects being developed along with residential areas and commercial establishments. The financial module of the project will be based on the pattern of Aerocity project and for land acquisition GMADA has already obtained loans from various banks, which were to be used for Medicity project in Mullanpur. However that project did not materialize as land owners moved Punjab and Haryana high court seeking a stay on acquisition proceedings citing previous instances where land was forgone by GMADA under certain conditions. With the possibility of election model code of conduct before state assembly elections being enforced by this month-end looming large, sources in GMADA said it made sense to utilize the money earned from Ecocity residential project as well as loans obtained from various banks channeling them towards IT City project. The acquisition process for IT City is almost complete and we had recommended Rs 1.68 crore per acre as compensation to landowners. We are targeting December 20 for conducting proceedings for site auction of plots in IT City. Part of the Dream Weave Walk Network 1998-2012

GMADA has big plans in Mohali sector 88

2011-12-23T01:18:00.000-08:00

Mohali has been striding ahead with planned urban development, but in the new sectors, independent plots are being phased out. Scarcity of land has made the Greater Mohali Area Development Authoritity favour only multi-storey residential towers in the upcoming areas. To meet with the heavy demand for housing in the region, GMADA will launch its new scheme of fifteen-storey flats in sectors 88 and 89 in Mohali. The state is planning to construct about 6,000 flats in high-rise buildings over 100 acres. These Purab Premium Apartments will be made in over 100 towers that are 15 storeys high. The flats will come up in diverse sizes, priced between Rs 43 lakh and Rs 69 lakh. About 4,500 flats will be given through draw of lots, and the rest through auction. For this new housing project, the state has acquired about 200 acres of land from farmers. The land-owners were given the choice of opting for cash compensation of Rs 1.69 crore per acre, or land-pooling in GMADA projects. The last project where GMADA offered 870 plots in different sizes was Eco city at Mullanpur. The allotment prices ranged from Rs 17,000 to Rs 19,000 per square yard, and draw of lots was held in November. Another popular project of GMADA where independent plots were offered was Aerocity. There was heavy demand for the 4,000 plots allotted here by GMADA last year, at the rate of Rs 12,000 per square yard. In all its projects where plots were offered, GMADA has received a thumping response from buyers. But independent houses do not seem to be on GMADA’s scheme of things now. Part of the Dream Weave Walk Network 1998-2012

Mohali: Masterplan of mohali

2011-12-11T07:18:00.001-08:00

Part of the Dream Weave Walk Network 1998-2012

Mullanpur:auction plots for Medicity

2011-12-11T06:14:00.001-08:00

Punjab government is planning to auction plots for Medicity in the first week of January. The state is going to carve plots of five acres and ten acres for the premier medicare hub planned over 97 acres at Mullanpur. The institutions that bid for these plots will build hospital complexes, infrastructure for the allied services, and also residential complexes for their staff within the campus. The state is keen to develop Mullanpur as one of India’s best medical hubs, and is talking to some of the top medical care providers worldwide to apprise them of the project. By December 15, Greater Mohali Area Development Authority (GMADA) will give awards to those landowners at Mullanpur whose land has been acquired for Medicity. The project will be launched by the state government shortly thereafter. Medicity and Eco City, GMADA’s prime residential-cum-commercial estate, have jacked up the price of land in the area now touted as New Chandigarh. While the big players at Mullanpur are real estate giants DLF and Omaxe, even smaller developers are now offering plots in the range of Rs 16,000 to Rs 18,000 per square yard. Part of the Dream Weave Walk Network 1998-2012

GMADA results of Commercial and Residential Plots Auction

2011-11-28T08:36:00.001-08:00

The second auction of the Greater Mohali Area Development Authority (GMADA) held here on Monday and Tuesday was more successful than the first one held last year. A shop-cum-office (SCO) fetched the highest value of Rs 5.92 crore, a 1-kanal house went for Rs 4.60 crore on Monday and the Authority earned Rs 181.34 crore. On the second day of the auction today, 37 commercial sites were auctioned and fetched Rs 74 crore against a reserve price of Rs 61 crore. Of these, 13 were SCOs and 29 were booths. An SCO in Sector 70 went for Rs 5.92 crore. It was bought by renowned gynaecologist Dr Mangla Dogra. Another SCO in the same sector went for Rs 5.91 crore and was bought by one Amarjeet Singh. The third highest, also in Sector 70, was bought for Rs 5.90 crore by one Amit Jain. The reserve price of all of these three SCOs was Rs 5.57 crore. One Arvinder Kaur bought an SCO in Sector 68 for Rs 4.40 crore against a reserve price of Rs 3.34 crore while 20 commercial properties were sold on Monday. A booth in sector 60 fetched the highest price of Rs 82.50 lakh against a reserve price of Rs 46.75 lakh. Earlier, at the commercial auction on Monday, 22 commercial sites were sold including built-up booths in Sector 70 and GMADA earned around Rs 12 crore. The highest bid was for a booth was for Rs 45 lakh against a reserve price of Rs 8.33 lakh. The lowest bid was was for Rs 37 lakh. On Monday, the first day of the auction, GMADA earned Rs 107.34 crore from the sale of 32 residential plots. A 1-kanal plot was bought by one Suresh Kumar for Rs 4.6 crore while a 4-marla plot in Phase IX was sold for a whopping Rs 1.25 crore against a reserve price of Rs 41 lakh, taking the reserve price to Rs 92,000 per square yard. Another 1-kanal plot was sold for Rs 4.56 crore and a plot of the same size went for Rs 3.91 crore against a reserve price of Rs 2.01 crore. The lowest price fetched by a plot was Rs 3.65 crore. In Sector 56, a 6-marla plot was sold for Rs 1.16 crore. Part of the Dream Weave Walk Network 1998-2012