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First affordable housing colony in Patiala soon
The Tribune  |  July 22, 2019

Our Correspondent Ludhiana

Chief Minister Capt Amarinder Singh approved the first-ever affordable housing colony to come up in Patiala soon. GK Group, a premier property developer of Ludhiana, has been given the licence for its development.


The 24.72 acres colony — Maple Horizon, will be developed on Sirhind Road in Patiala in association with Delhi-based Maple Group. The licence was handed over to officials of the company by the CM at his Chandigarh residence.


Giving details, Gulshan Kumar, managing director, Maple GK Infrastructure, said the colony would be developed on Sirhind Road and its location was in close vicinity to the new Ring Road coming up in Patiala.


He said the colony would have 613 residential plots, 36 SCOs in the commercial pocket along with all other facilities such as parks, sewerage system, water supply, 45-ft-wide roads and green belts as provided in the PAPRA Act 1995.


“As the Affordable Housing Policy of Punjab had been linked with the Prime Minister Awaas Yojna, all nationalised banks will provide housing loan for 20 years on simple terms with a subsidy of Rs 2.67 lakh under the credit-linked subsidy scheme.”


The colony will be launched and plots will be offered for sale after the registration of the project with the Real Estate Regulatory Authority, which is already under process.