Background of GMADA
GMADA (Greater Mohali Area Development Authority) is a development body that has been established to oversee the growth and development of the Greater Mohali area, including the much-awaited independent township and the 27-km-long greenfield highway. The key feature of GMADA is the Shaheed Bhagat Singh International Airport, which is under construction and is expected to be operational soon. The airport road stretch has already witnessed significant developments, including road construction and major projects such as the Knowledge City. The area is also connected to the National Highway-1, making it accessible from all parts of the country. In this context, let us delve deeper into the background of GMADA and its aerotropolis project.
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Overview of Aerotropolis Project
The Greater Mohali Area Development Authority (GMADA) Aerotropolis Project is a massive undertaking aimed at transforming the region into a hub for residential and commercial ventures. The project’s objectives are to develop the area’s infrastructure and provide modern facilities to the residents while also boosting economic growth.
The construction of the Aerotropolis Project took place in various phases, with each phase offering unique features to its inhabitants. The residential plots available for purchase are designed to cater to a wide range of preferences, from 1125 square feet city land pooling plots, brokerage plots, corner plots, and yard plot rates. Apart from residential plots, commercial plots are also available with tentative prices based on the market trend. GMADA has played an essential role in the project’s development by acquiring the necessary land and providing monetary compensation as per the process of land acquisition.
One of the project’s significant highlights is the road network, which includes grid roads that support the 200-feet road and the approach roads. The Ludhiana road, Banur-Zirakpur road, and the Airport road stretch also form part of the significant road projects under the Aerotropolis Project. This 27-km-long greenfield highway network boasts a modern and extensive layout designed to cater to the residents’ transportation needs.
The Aerotropolis Project is located in close proximity to the Shaheed Bhagat Singh International Airport, making it a prime location for residential and commercial development. The much-awaited independent township offers a unique blend of both urban and rural living.
Overall, the Aerotropolis project is a prominent landmark of the region’s urban development, with major contributions from GMADA as a development body. The project’s significance is evident in its aim to provide a better, healthier, and modern lifestyle to its inhabitants while also boosting economic growth.
Key Features of GMADA Aerotropolis
The Aerotropolis Project is a much-awaited independent township situated in the Greater Mohali Area Development Authority (GMADA). Its unique features have made it an attractive location for residential and commercial development. The key features of Aerotropolis include residential and commercial plots, a well-developed road network, close proximity to the Shaheed Bhagat Singh International Airport, and a blend of both urban and rural living. This article will delve deeper into each of these features, highlighting what makes them essential for prospective buyers and investors.
Location and Connectivity
GMADA Aerotropolis’s location and connectivity are one of its key strengths. It is well-connected to major road networks, including the Ludhiana road and the 27-km-long greenfield highway. The airport road stretch and its connectivity to the Shaheed Bhagat Singh International Airport make it an excellent location for businesses and frequent flyers. Finally, the availability of vacant plots for sale provides opportunities for investors to take advantage of this prime location.
Residential Plots and Independent Township
GMADA Aerotropolis is not only a commercial hub, but it also offers a high-quality residential development that features residential plots and an independent township. The residential plots within the GMADA Aerotropolis range from 1125 square feet to 500 square yards, providing diverse options for buyers based on their requirements. Overall, the GMADA Aerotropolis project has transformed the real estate market in Mohali, and the inclusion of residential plots and an independent township ensures that it caters to the diverse needs of all potential buyers.
Commercial Plots and Amenities
GMADA Aerotropolis not only offers residential plots but also provides various options for commercial plots. These plots are designed to cater to the needs of business owners who are looking to invest in a prime location. GMADA has designated specific areas for commercial development within the locality. These areas include shopping malls, office spaces, and multiplexes.
GMADA offers several incentives for setting up commercial establishments in the area. These incentives include monetary compensation for land acquisition under the land pooling scheme and reduced prices for city landpooling plots. Additionally, the construction of roads and major road network in the area is underway, making access to the GMADA Aerotropolis easier.
Shaheed Bhagat Singh International Airport
Shaheed Bhagat Singh International Airport, inaugurated in 2015, is the primary airport serving Greater Mohali Area and is an essential aspect of the GMADA Aerotropolis project. It is multidimensional, offering both passenger and cargo services, and acts as an all-in-one hub for international and domestic travel. Its expansion and operations have resulted in numerous benefits to the region, from increased passenger traffic to an improved transportation network connecting the city to other parts of the world. As the airport continues to grow, it will help catalyze further development in the region.
Major Road Network
The GMADA Aerotropolis project in Mohali is well-connected through a network of roadways, making it easily accessible from various parts of the region. The Airport Road Stretch is a major road network that connects the project with Shaheed Bhagat Singh International Airport. The road stretch is well-maintained and offers smooth connectivity for commuters.
The major road network surrounding the GMADA Aerotropolis project makes it accessible from various parts of the region. The Fatehgarh Sahib district, Safipur, Matran, and Knowledge City are some of the locations that are well-connected to the project through these roadways. Additionally, several road projects are in the pipeline, which will further enhance connectivity to the project. These road projects include the construction of the Knowledge City Road, the Mohali-Kharar 200-feet road, and the proposed ring road.
The GMADA Aerotropolis project in Mohali boasts a robust transportation network, connecting it with major cities and landmarks in the region. The Airport Road Stretch, Ludhiana Road, 27-km-long Greenfield Highway, and Banur-Zirakpur Road, among others, play a significant role in enhancing connectivity, thereby promoting real estate development and economic growth in the area.
Impact of GMADA Aerotropolis on Property Prices in Mohali
The Greater Mohali Area Development Authority’s (GMADA) Aerotropolis project is a highly anticipated initiative. This massive development will have a considerable impact on Mohali’s real estate prices, given the scale of the project. The current property rates in GMADA Aerocity, Mohali, give insight into the potential tentative price trends in the region as well as the possible price range per sqft.
Currently, the price range per sqft for plots in GMADA Aerocity, Mohali, is between Rs. 13,000 to Rs. 25,000, depending on the location and proximity to the airport road stretch. These prices are expected to go up as the development of GMADA Aerotropolis progresses and the area becomes increasingly attractive to home-buyers and investors.
The key drivers of property pricing in the region will include the proximity to the international airport, the quality of road infrastructure, and the overall economic growth of the area. Additionally, external factors such as national regulations and government policies will also play a significant role in affecting property prices.
Considering these factors, the tentative price trend for GMADA Aerotropolis and Aerocity plots is expected to continue an upward trajectory in the short and long term. As the area develops further, and the knowledge city and other commercial projects in the region come to fruition, we can expect even more robust growth in property values. The banur-zirakpur road and the national highway-1, connecting the area to cities such as Ludhiana, Fatehgarh Sahib district, Safipur, and Matran, will also have a significant impact on pricing trends.
Overall, the GMADA Aerotropolis and Aerocity offer significant opportunities for homebuyers and investors, with strong potential for growth in property values. As the area continues to develop and mature, the pricing trends are likely to continue on an upward trajectory, making it an attractive location for investment in the real estate market.
In conclusion, the expected impact of GMADA Aerocity on property prices in Mohali is highly positive, with predictions suggesting a significant rise in value attributed to the township’s proximity to the international airport and the overall increase in demand for property in the area. Investors can expect to see significant returns on their investments in the coming years, making GMADA Aerocity an exciting prospect for the real estate market in Mohali.