Punjab-based Motia Group to invest Rs 150 crore in a residential project – ET RealEstate

Punjab-based real estate developer Motia group will invest Rs 150 crore to develop a residential project in Zirakpur, adjoining Sector 20, Panchkula.

Spread over 7 acres, the project will have 272 units of different composition.

“With Chandigarh on the map for NRIs, the opening of properties in Zirakpur near Airport Road has provided them with the opportunity to expect high returns on their investment. It also has excellent access to key places, nearby tourist attractions, and high quality of life, making it a popular place to buy/invest,” said LC Mittal, Director, Motia Group.

Adjoining a forest cover of approximately 300 acres, the premium residential project is expected to attract investment from people due to the potential of high returns.

“Property investment is secure because you will receive returns on your capital, whether through rental or capital appreciation; capital appreciation is predicted to range between 10% and 12% in the short term,” Mittal added.

In phase I, the group will deliver 72 units out of the total 272 units.



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Mohali: Police-public meetings organised to boost tenant verification – ET RealEstate

BY: Piyush Sarna

MOHALI: Police-public meetings are on in the district to boost tenant verification, encourage use of internal security apps, and gather ground intelligence against crime.

Superintendent of police (rural) Ravjot Kaur Grewal conducts these meetings under the supervision of SSP Satinder Singh. Held at a Zirakpur resort, the first meeting on December 17 had an attendance of 300 people, representing 180 resident welfare associations (RWAs).

SP Ravjot Kaur said: “Mohali is developing, urbanising, and growing, so the trust between its police and communities should be strong. We hope that these meetings will make community policing popular, and police-public partnership will be able to respond to complex situations.”

The cops have asked the RWAs to sign up their members for tenant verification. The SP said: “We also plan to make an app for the RWAs to let them know whether the tenant verifications were accepted or not.” Since flats and large housing societies are developing rapidly in Mohali, the district police have appealed to the residents to start using the internal security apps of respective housing societies.

The cops want the residents to know their neighbours, regular vendors, and visitors. “This is a way to empower society,” said Ravjot Kaur, adding: “Ground intelligence will help us solve crimes. Residents should report anything unusual they observe in their area.”

The second meeting in Kharar had a participation of 79 RWAs. Senior superintendent of police Satinder Singh told TOI: “We are in touch with the district’s security-providing agencies. They charge so much from the housing societies but their guards do little besides noting down names in the visitors’ book. We will tell them about their other duties.”

In his first interview after joining, the SSP had invited the Mohali residents to be the eyes and ears of the Mohali police in order to reduce the crime rate.



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GBP group to invest Rs 600 crore to build 32-acre township in Zirakpur – ET RealEstate

NEW DELHI: Punjab-based realty firm GBP group on Saturday said it will invest Rs 600 crore to develop a township in Zirakpur.

In the 32-acre township, the company will develop 700 flats, 400 plots and 750 commercial units.

The township ‘Central Town‘ will be developed “with a total outlay of Rs 600 crore” being funded through banks and internal accruals, GBP group said in a statement.

The company plans to give possession of plots within six to nine months, residential units within two-three years, commercial units in 18-24 months, it added.

“In the surrounding areas of Chandigarh, prices are three times as compared to prices in Zirakpur,” said Raman Gupta, Director – Branding & Construction, GBP Group.

The demand is expected to rise in this city because of higher growth in population, he said.

Established in 2012, GBP Group has so far delivered 14 projects spread over an area of 10 million sq ft. The construction work is going on at another nine projects over an area of 6 million sq ft.



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