INDORE: Eyeing to generate over Rs 1,000 crore of revenue, Indore Development Authority (IDA) has put as many as 31 properties, including those for residential, commercial, and semi-commercial purposes, on sale through bidding.
According to IDA CEO RP Ahirwar, a total of 31 properties at seven locations have been put on sale through bidding, with a total value of Rs 978 crore. “Online biddings have been invited, and the properties will be sold to the highest bidders,” he said, adding that the authority expects to receive 10% up to 50% of the base price, which is expected to generate over Rs 1,000 crore of revenue for the state govt.
Among the properties is land reserved for a petrol pump in Scheme 78 Niranjapur Phase-2, nine residential plots in Scheme 51, four industrial plots in Scheme 78, and as many residential plots in Scheme 59.
There are also two shops in Scheme 78, ten plots in Scheme 151 on Super Corridor, and one residential-cum-commercial plot in Scheme 140.
IDA is expecting to receive maximum bids for the single plot put on sale in Scheme 140.
“IDA properties always attract a high number of investors as they are legal-free, without any disputes, and offer all the basic amenities, including drinking water and drainage lines, electricity, widened roads, playgrounds, and provision for greenery,” the CEO said.
He added that the money generated by selling the properties would help IDA in the implementation of different schemes and development projects, including flyovers.
