Mohali: The Punjab housing and urban development department has revoked a ₹40-crore financial waiver granted to Delhi-based developer Remigate Buildestates (India) Pvt Ltd, in a revision order passed by Principal Secretary Vikas Garg on October 15. Garg concluded that the Greater Mohali Area Development Authority (GMADA) had failed to account for critical construction approvals when it approved the concession in February 2026.

Source: Mirror Now

According to the order, the developer had secured building plan approvals in 2017 and obtained clearance up to the plinth level by March 2021 for the 1.13-acre food-court site in Sector 62, Mohali. Those documents, the order said, showed construction was not only feasible but had already commenced. Garg noted the company had since ceased both construction and payment, which undermined the basis for the relief granted by GMADA's additional chief administrator.

Hindustan Times has separately reported that the Punjab government flagged lapses by GMADA's additional chief administrator in granting the ₹40-crore waiver to Remigate. The developer had sought the waiver citing site problems, including poor road access and a lack of water and sewerage infrastructure. But GMADA's own internal engineering reports contradicted those claims, confirming the site had access to the necessary roads and utilities, according to the Mirror Now report. Records also indicate the company stopped making scheduled payments as early as 2016 and failed to adhere to a revised payment plan issued earlier this year.

₹40 croreWaiver revoked — yaani ₹4,000 lakh
₹32.50 crorePrice at which the company bought the Sector 62 site in a 2015 auction
1.13 acresFood-court site in Sector 62, Mohali
~₹57 croreTotal dues, non-construction fees and penalties reported in the wider case

What happens now

Following the revocation, the housing department has ordered GMADA to calculate the total outstanding balance, including interest, penal interest and non-construction fees. The developer is to receive an itemised statement of dues within two weeks and will then have one month to settle the account. If it fails to comply, the authority is prepared to initiate proceedings to resume the site and forfeit previous payments, subject to legal notice and hearing requirements, the report said.

The ED probe in the background

The revocation comes as the Enforcement Directorate (ED) continues its money-laundering investigation into the allotment. Mirror Now reported that the ED has arrested the company's promoter, Jagmohan Garg, as part of the broader probe, and has requested Punjab Police to register an FIR against company directors and GMADA officials suspected of involvement. NorthDesk, in an explainer on the case, also reported that as the ED deepened its probe — including searches at GMADA and housing department offices — the state government revoked the relief order and began reassessing the actual dues, which it put at roughly ₹57 crore including penalties.

Source: NorthDesk

The ED is also examining allegations that manipulation of reserve prices for unsold GMADA land parcels may have caused a potential loss of nearly ₹10,000 crore (yaani ₹1 lakh crore) to the state exchequer, according to the reports. These are investigative allegations made by the agency; no court has established wrongdoing in this matter, and the company's response to the revocation order has not yet been reported.

What to watch next is GMADA's recalculated dues figure, and whether the developer pays within the deadline or the authority moves to take back the Sector 62 site.