GB Realty's Aerocity Pre-Launch Puts Airport Road Pricing to the Test

GB Realty's Aerocity Pre-Launch Puts Airport Road Pricing to the Test

GB Realty has opened the pre-launch of First Avenue, a residential project on Airport Road (PR-7) in Aerocity, Mohali. The developer is putting up 2+1, 3+1 and 4 BHK homes on about 8.5 acres of GMADA auction land, with prices starting from Rs 1.65 crore as of October 2026. The project is at the soft launch stage and is not yet RERA registered, so it is not open for sale or booking until registration is complete.

The scheme spans eight towers of up to 25 floors, with low-density planning and a mix of apartments and independent floors. Facts as on October 2026, from the developer.

Impact on Homebuyers

For anyone shopping in Aerocity, the headline number matters. A 3 BHK of 1,900 sq ft is priced at Rs 1.52 crore, while a 2,200 sq ft unit with a servant room and store is listed at Rs 1.76 crore. The developer's price list shows a basic sale rate of Rs 8,000 per sq ft, and the 3,000 sq ft 2-core 3 BHK and the 4 BHK of the same size both sit at Rs 2.40 crore. Park-facing units carry an extra preferential location charge of Rs 5 lakh for homes up to the 10th floor, and top-floor units attract Rs 250 per sq ft.

Buyers should also budget beyond the sticker price. GST on under-construction homes above Rs 45 lakh is 5% on the construction value with no input tax credit. In Punjab, stamp duty is 7% for men, 5% for women and 6% for joint male-female buyers, and registration is 1%, capped at Rs 2 lakh. Home loans are available from SBI, HDFC, ICICI Bank and Axis Bank, with up to 80% financing for eligible applicants.

The payment plan is construction-linked. A 10% booking amount is followed by a series of 10% instalments tied to the basement raft, floor slabs and structure completion, with the balance due at offer of possession. The developer's own timeline points to 2030 for handover.

Should buyers wait or act? The honest answer is that the RERA registration is the real trigger. Until the project is registered, a buyer has no legal protection under the state's real estate law, and booking money paid now carries that risk. Buyers who like the location should watch for the registration notice, read the agreement closely and compare the per-sq-ft rate against nearby Aerocity and IT City projects before committing.

Expert Analysis

Airport Road has been one of the busiest growth corridors in Mohali for several years, and the reason is simple. Chandigarh International Airport is about 2 km from Aerocity, roughly five minutes away, and NH-44 is within 10 minutes. The IT City employment belt is reached through the PR-7 sector roads. That combination of airport adjacency and jobs keeps demand steady, and it explains why developers keep launching here.

The GMADA-planned township also gives the area a certain comfort. Aerocity has a reputation as one of Punjab's better-planned communities, and GMADA-developed land is generally seen as cleaner title than private-developer land in the corridor. Still, the picture has its shadows. A large block of Aerotropolis land is tied up in litigation, and the Bawa White House shortcut linking Sectors 65 and 66 to the airport, a 3.36 km project, has missed its 31 May 2026 operational commitment. Buyers should treat these as live risks, not footnotes.

Pricing at First Avenue is positioned competitively against neighbouring Aerocity and IT City developments, and the 8,000 per sq ft basic rate is in line with the premium end of the Airport Road belt. For a developer that has shifted its focus toward the Chandigarh region, this is a sign that it expects steady demand from end users rather than a quick speculative flip.

What to Expect Next

The next milestones to watch are the RERA registration, the formal launch date and the opening of bookings. Once the project is registered, buyers will be able to see the approved plans and the registered timelines. Over the next year or so, the wider corridor will also move forward. The Aerocity to PR-9 (Kharar-Banur Road) 200 ft connector and the Airport Road redesign between Sectors 68/69 and Sector 79 are both under construction, and GMADA has targeted mid-2026 completion for the Airport Road smart-infrastructure upgrade across Sectors 68 to 79.

Related Projects & Areas Affected

• Aerotropolis Pockets B, C and D: infrastructure is underway here, with possession expected between 2027 and 2028, and these pockets will shape how many new homes reach the airport side of Mohali.
• Airport Road (PR-7) corridor: the 200 ft road links Aerocity Block J to the Kharar border and carries most of the demand for homes in this belt.
• IT City, Mohali: the employment hub reached through PR-7 sector roads, and the main reason buyers look at Aerocity in the first place.
• Bawa White House shortcut: a 3.36 km link to the airport that has missed its commitment date, so buyers should check its progress before relying on it.
• GB Realty's Jacob & Co. Residences, Aerocity: a branded luxury tower on the same airport road, with RERA registration described as coming soon, which makes it a useful benchmark for pricing in the locality.

Full project details: GB Realty First Avenue