📷 Image: Wikimedia Commons / Ruupinder
Local
GMADA slapped with Rs 11.02 lakh interest for delayed plot possession in Mohali
✍️ Amar Ujala · Mohali
🗓 30 Oct 2026, 02:16 AM
👁 11
The Greater Mohali Area Development Authority has been ordered to pay interest of Rs 11,02,295 for postponing the handover of a residential plot.
The Greater Mohali Area Development Authority (GMADA) has been directed to remit interest amounting to Rs 11,02,295 after failing to deliver possession of a residential plot on the scheduled date. The penalty was imposed by the relevant authority overseeing land allocation in Mohali, citing the undue delay as a breach of the agreed timeline.
The interest figure reflects the accrued cost for the period during which the plot remained unavailable to the buyer, emphasizing the importance of timely handover in the city’s real‑estate sector. No additional penalties or legal actions were reported beyond the interest charge.
Stakeholders note that the enforcement of such financial consequences aims to reinforce accountability among development agencies and protect home‑buyers’ interests in the rapidly expanding Mohali region.
The interest figure reflects the accrued cost for the period during which the plot remained unavailable to the buyer, emphasizing the importance of timely handover in the city’s real‑estate sector. No additional penalties or legal actions were reported beyond the interest charge.
Stakeholders note that the enforcement of such financial consequences aims to reinforce accountability among development agencies and protect home‑buyers’ interests in the rapidly expanding Mohali region.