IDA approves 5 schemes to develop residential, commercial properties
Real Estate

IDA approves 5 schemes to develop residential, commercial properties

The Board of Directors (BoD) of Indore Development Authority (IDA) has approved new five schemes for developing residential and commercial properties along with major roads of around Rs 1,750 crore.

The administrative sanction has been given to develop two flyovers at Khajrana and Luv Kush Square at Rs 137.50 crore.

Chairman of IDA, Jaypal Singh Chawdan, said that the Board of Directors had approved developing five new schemes after clearing around 700 claims and objections.

He added that the authority had sent the proposals to the state government for approval. The five schemes are town planning scheme TPS-1, TPS-3, TPS-4, TPS-5 and TPS-8 and might start by June while prioritising road projects.

Additionally, the development scheme will also include 29 km of road development.

According to the proposal, TPS-1 will be developed in 49.079 hectares area in Khajrana at Rs 145.73 crore, TPS-3 will be developed in 143.382 hectares area in Lasudia Mori, Talawali Chanda, Arandiya and Mayakhedi area at Rs 335.5 crore. TPS-4 has 85.387 hectares of land for residential, transportation and a master plan road at Rs 215.83 crore.

TPS-5 will include residential plots and master plan road in 159.544 hectares of land in Kanadia area at Rs 346.96 crore, TPS-8 in 301.842 hectares land in Bhawrasala, Kumedi, Bhangya, Kailodhala, Sudiyamori, Talawali Chanda, Shakarkhedi and Arandiya village at Rs 706.67 crore.

In the board meeting, the directors, including collector Manish Singh, IMC Commissioner Pratibha Pal and CEO of IDA Vivek Shrotriya, were present and approved Rs 57.5 crore to develop a six-lane bridge at Khajrana Square. Moreover, a six-lane flyover at Luv Kush Square will be developed.

The IDA officials are examining the feasibility to develop nine flyovers at the key squares of the city to help ease traffic congestion.

Image Source

Also read: Indore Smart City CEO: Tenders to be floated for installing LED lights

The Board of Directors (BoD) of Indore Development Authority (IDA) has approved new five schemes for developing residential and commercial properties along with major roads of around Rs 1,750 crore. The administrative sanction has been given to develop two flyovers at Khajrana and Luv Kush Square at Rs 137.50 crore. Chairman of IDA, Jaypal Singh Chawdan, said that the Board of Directors had approved developing five new schemes after clearing around 700 claims and objections. He added that the authority had sent the proposals to the state government for approval. The five schemes are town planning scheme TPS-1, TPS-3, TPS-4, TPS-5 and TPS-8 and might start by June while prioritising road projects. Additionally, the development scheme will also include 29 km of road development. According to the proposal, TPS-1 will be developed in 49.079 hectares area in Khajrana at Rs 145.73 crore, TPS-3 will be developed in 143.382 hectares area in Lasudia Mori, Talawali Chanda, Arandiya and Mayakhedi area at Rs 335.5 crore. TPS-4 has 85.387 hectares of land for residential, transportation and a master plan road at Rs 215.83 crore. TPS-5 will include residential plots and master plan road in 159.544 hectares of land in Kanadia area at Rs 346.96 crore, TPS-8 in 301.842 hectares land in Bhawrasala, Kumedi, Bhangya, Kailodhala, Sudiyamori, Talawali Chanda, Shakarkhedi and Arandiya village at Rs 706.67 crore. In the board meeting, the directors, including collector Manish Singh, IMC Commissioner Pratibha Pal and CEO of IDA Vivek Shrotriya, were present and approved Rs 57.5 crore to develop a six-lane bridge at Khajrana Square. Moreover, a six-lane flyover at Luv Kush Square will be developed. The IDA officials are examining the feasibility to develop nine flyovers at the key squares of the city to help ease traffic congestion. Image Source Also read: Indore Smart City CEO: Tenders to be floated for installing LED lights

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?