At last, Telecom GFG 1 & 2 phases have completed allotment process on Aug 13 and 20. Completed most of 50x80, 60x40 and 30x40 plots.
GFG 3 will start allotment from next week.
During General Body meetings last year (7months back) the expected additional price was around 50-60 psqft. Suddenly they announced 200 psqft to meet the allotment and registration. There was a huge concerns of the society raising the final amount to 600 psqft and later with lot of arguments in counseling it got reduced to 575 psqft.
The current market price running around Chaparkal Road is around Rs. 1000 - 1200 psqft. Even Developer was pulled into explaining why the raise of final price was 175 instead of 50-60 rs. This is put a huge burden to get it registered.
The procedure and process of allotment was very professional.
However, some of the P&T employees wanted to change their site nos which was not controlled properly.
Hats off to President G.Babu for ending this long process where people have waited for 8 long years.
In one way, we could have atleast earned double the amount if we had parked our funds in FDs. But, we are in a fix anyways.
Seems like some of the GFG layouts have 30-40% of Associate Members. Some of the employees were arrogant to accept this as AM members will pay any price to capture the secondary market.
Most of the AMs which had seniority of 1150 > got only odd sites or lesser than 2400 sqft. The registration will happen by Oct or Nov for Seniority till 1400.
I am really concerned as the appreciation of this layout will take atleast 4-5 years depending upon how fast the developer will work.
Its only for my children to dream of a house in this layout.
If anybody has any other news which are factual, please add on.