Gmada to acquire 2,600 acres of land across Mohali to curb mushrooming of unauthorised colonies
2
Mohali: In a significant push towards curbing the mushrooming of illegal and unauthorised colonies, the Greater Mohali Area Development Authority (Gmada) is set to acquire land across the city.
The Punjab govt has approved the acquisition of nearly 2,600 acres of land across various sectors for commercial, institutional, industrial, and residential use.
The decision was taken during a meeting of the executive committee of Gmada here Friday. It was chaired by state chief secretary KAP Sinha.
As per the plan, 236 acres will be acquired in Sector 87 for commercial purposes, 313 acres in Sector 84 for institutional projects, and 321 acres in sectors 101 to 103 for industrial use.
The biggest chunk — 1,800 acres — will be acquired in sectors 120 to 124 along the PR-7 road for residential development.
The acquisition is expected to begin within a month, pending final approval from chief minister Bhagwant Singh Mann, who also heads the Punjab Urban Planning and Development Authority.
A senior Gmada official confirmed that with this move, no Change of Land Use (CLU) permissions will be granted to private developers in the targeted areas.
"This will ensure regulated development and curb the unchecked spread of unauthorised colonies," he explained.
Particularly in sectors 120 to 123, several unauthorised colonies have mushroomed across nearly 50 acres in villages like Daun, Raipur, Behlolpur, Barmajra, Tarauli, and Jhampur. These were carved out of agricultural land without CLU approvals or the required official clearances.
The chief administrator has directed officials to submit a report within two days to fix responsibility for such violations.
Authorities have also been instructed to use Google satellite imagery to identify illegal constructions and take immediate legal action.
The move is seen as a firm step towards enforcing urban planning norms and preventing haphazard growth in one of Punjab's fastest developing regions.
BOX
ROADMAP FOR ONE OF PUNJAB'S FASTEST DEVELOPING REGIONS
236 acres will be acquired in Sector 87 for commercial purposes
313 acres in Sector 84 for institutional projects
321 acres in sectors 101 to 103 for industrial use
The biggest chunk — 1,800 acres — will be acquired in sectors 120 to 124 along the PR-7 road for residential development
IN A COLOUR PATCH: The acquisition is expected to begin within a month, pending final approval from CM Bhagwant Singh Mann, who also heads the Punjab Urban Planning and Development Authority
QUOTE
With this move, no Change of Land Use (CLU) permissions will be granted to private developers in the targeted areas. This will ensure regulated development and curb the unchecked spread of unauthorised colonies
A senior Gmada official
Get the latest lifestyle updates on Times of India, along with
Eid wishes
,
messages
, and
quotes
!
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
2 days ago
- Mint
V-Mart posts strong profit jump in June quarter even as small town demand lags
Bengaluru: V-Mart Retail Ltd's net profit nearly tripled year-on-year in the April-June quarter, lifted by cost cuts and improved operational efficiency, even as slow sales at existing stores and weak demand in small cities reflected a broader pressure on consumer spending. The Kolkata-based value fashion retailer's revenue rose 13% year-on-year to ₹ 885 crore in the three months through June, its highest quarterly revenue in over two decades. The performance slightly exceeded Motilal Oswal's analyst estimate of a 12% growth. V-Mart's net profit surged 177% to ₹ 34 crore in the April-June quarter of FY26, despite discretionary demand remaining patchy in the country's small towns. Sales at older stores grew just 1% from a year earlier, but the company said this number looks low mainly because the Eid festival shopping happened early this year. 'If you adjust for that shift, the real growth at existing stores was closer to 5%, with both the V-Mart and Unlimited store formats contributing equally,' the company said in an exchange filing on Thursday. 'The operating leverage has clearly kicked in, and these margins will sustain in the coming quarters as well,' said Pratik Prajapati, equity research analyst at Ambit Capital. 'The numbers are pretty strong, and the company has shown meaningful efficiency on the cost side.' The company's earnings before interest, taxes, depreciation and amortization rose 27% y-o-y to ₹ 126 core in the June quarter, up from ₹ 99 crore in the same period a year ago. Investors cheered V-Mart's quarterly results, as the company's shares settled 5.7% higher at ₹ 807.40 apiece on the BSE on Thursday. The subdued same-store sales growth mirrors a broader consumption slowdown in discretionary retail. Avenue Supermarts Ltd (DMart) posted a muted same-store sales growth (SSSG) of just 3.9% in Q1 FY26, while Shoppers Stop's same-store sales contracted 5.9% during the same period, reflecting similar softness in footfalls and demand across organized value and premium retail. Same store sales growth measures the year-on-year revenue growth from stores that have been operational for at least a year, and is a key metric of a company's operational efficiency and financial health. V-Mart added 15 new stores and shut two underperformers during the quarter, taking its total store count to 510 across 27 states and Union Territories. While store expansion continues, the company is also focusing on improving performance at existing locations. V-Mart's expansion comes at a time when competition in the value fashion segment is intensifying, particularly in smaller towns. Rivals like V2 Retail are scaling rapidly, which has added 26 new outlets in the June quarter alone and is considering revising its FY26 expansion guidance upwards from the earlier target of 100 stores. The company runs over 215 stores, with a stronghold in eastern markets like Bihar, Uttar Pradesh and Odisha where V-Mart also has a dominant presence. This parallel expansion signals growing competition for wallet share among price-sensitive consumers in India's smaller cities. However, V2 Retail and Vishal Mega Mart have yet to announce their June quarter earnings. Founded in 2002 by Lalit Agarwal, V-Mart Retail has grown into one of India's leading value fashion retailers, catering primarily to middle- and lower-income households in tier-2, tier-3, and tier-4 cities. With a stronghold in North and East India, the company operates a chain of affordable fashion and lifestyle stores offering apparel, footwear and accessories for the entire family. Over the years, V-Mart has built a reputation for serving price-sensitive consumers in small towns with a focus on efficient store operations, localized merchandising and private labels. A key part of V-Mart's broader expansion strategy has been the integration of Unlimited, the retail chain it acquired in 2021 from Arvind Lifestyle in a ₹ 150 crore deal. The acquisition added 74 large-format stores across South India, giving V-Mart a ready presence in urban and semi-urban markets in Tamil Nadu, Karnataka, Andhra Pradesh and Telangana—regions where it previously had little to no footprint. The company said the format has now turned profitable and, in the June quarter, performed on par with its legacy V-Mart outlets, with both contributing equally to adjusted same-store sales growth. Fashion continues to be the core category, with private labels making up 64% of apparel sales. V-Mart's latest collections, targeted at Gen Z consumers, included influencer-led designs and streetwear-inspired styles that performed well in newly-launched store formats. 'The rebound in profit and margin expansion is a direct outcome of the backend optimisation and sharper merchandise curation. We've focused on quality, fit, and trend alignment, particularly for Gen Z shoppers in Tier II and III towns,' said Lalit Agarwal, managing director of V-Mart Retail, in the company's FY25 annual report. 'Our renewed focus on product curation, customer insights and disciplined execution is helping us navigate the market challenges and deliver profitable growth,' the company said.
Time of India
2 days ago
- Time of India
V-Mart Q1 PAT surges to Rs 34 crore; revenue up 13% amid steady store growth
New Delhi: V-Mart Retail Ltd has reported a sharp 177 per cent year-on-year (YoY) rise in net profit to Rs 34 crore for the quarter ended June 30, 2025 (Q1 FY26), up from Rs 12 crore in the same quarter last year. The performance was supported by improved operational efficiency, better inventory control, and stable demand. Revenue from operations grew 13 per cent YoY to Rs 885 crore, compared to Rs 786 crore in Q1 FY25. EBITDA rose 27 per cent YoY to Rs 126 crore, with EBITDA margin improving to 14.3 per cent, up from 12.6 per cent a year ago. The company's days of inventory improved by 5 per cent YoY to 93 days, contributing to stronger profitability. Same-store sales growth (SSSG) stood at 1 per cent YoY, but after adjusting for the preponement of Eid to Q4 FY25, normalised SSSG came in at 5 per cent, driven equally by the V-Mart and Unlimited formats. V-Mart continued to expand its retail footprint, adding 15 new stores and closing 2 underperforming ones during the quarter, taking its total store count to 510 across 27 states and union territories. The company said it remains focused on strengthening its omni-channel presence through its platform LimeRoad and across other leading marketplaces. Founded in 2002, V-Mart has built its core around value fashion retailing for Tier II and III cities, offering affordable apparel and accessories through large-format stores averaging 8,000 sq. ft.
Business Standard
2 days ago
- Business Standard
V-Mart Retail gains after Q1 PAT climbs 177% YoY to Rs 34 cr
V-Mart Retail rallied 5.24% to Rs 803.90 after the company reported a standalone net profit of Rs 33.60 crore in Q1 FY26, up 176.77% from Rs 12.14 crore posted in Q1 FY25. Revenue from operations jumped 12.61% year on year (YoY) to Rs 885.22 crore in the quarter ended 30 June 2025. Profit before tax was at Rs 42.94 crore in Q1 FY26, marking a growth of 360.73% as against Rs 9.32 crore posted in Q1 FY25. For Q1 FY26, the companys revenue from the retail trade stood at Rs 879.06 crore (up 13.5% YoY), while revenue from the digital market stood at Rs 8.13 crore (down 40.79% YoY). EBITDA jumped 27% to Rs 126 crore in Q1 FY26 as compared with Rs 99 crore reported in Q1 FY25. EBITDA margin improved 14.3% in Q1 FY26 as against 12.6% recorded in the corresponding quarter the previous year. Same-store sales growth (SSSG) for the quarter stood at 1% YoY. Adjusting for the preponement of Eid to the previous quarter this year, normalized SSSG was 5% YoY, driven equally by V-Mart and Unlimited, both delivering 5% growth. The company remains focused on its store expansion plan and opened 15 new stores and closed 2 underperforming stores during the quarter, taking the total number of stores pan-India to 510 across 27 states & UTs as of quarter end. V-Mart is engaged in the business of Value Retailing through the chain of stores situated at various cities in India.
