The EO of GMADA has hastily and arbitrarily initiated the action to resume the site while the matter is pending before the Appellate Authority as WTC Chandigarh has already filed an appeal Is. Challenging illegal action of EO of GMADA u/s 45, 5, of Punjab Regional and Town Planning and Development Act 1995, plot was allotted to develop WTC Chandigarh in September 2015 for Rs 131 crore, paid for The deadline is till 2026.
WTC Chandigarh has already paid 108 crores to GMADA
WTC Chandigarh has already paid Rs 108 crore to GMADA, balance amount to be paid by June-2026. Extended Allowable Time Period, further, WTC Chandigarh has been regularly highlighting discrepancies in their calculations to GMADA and delayed payment of Paytm even after giving executed termsheets from 2022 by GMADA, which would have been paid on time Paytm Tax .
The project structure is 100% complete, expenditure has been met in excess of the plan and sufficient inventory is available for further expenditure. Receivable is also available in the project as per requirement.
It is noteworthy that notices by the authority to various other developers, allottees issued by GMADA are indicative of both the volatility in the micro-market and the hasty approach being taken. While we are deeply distressed and concerned about these recent developments. We urge and told Gamada that there is an urgent need to formulate a policy in public interest in this regard. At the earliest to ensure that the interest area of various stakeholders are appropriately addressed in various projects. This will pave the way for the revival of the entire Greater. Mohali is continuously attracting investment in the region as well as the state. We are confident of a strong position with properties in support of our appeal.
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