Indore Development Authority earns Rs 141 cr by selling big plots
Real Estate

Indore Development Authority earns Rs 141 cr by selling big plots

The Indore Development Authority (IDA) earned Rs 141 crore of income by selling its big plots located near Brilliant Convention Centre in Scheme 78 and some other schemes.

As per IDA’s CEO Vivek Shrotriya, on Monday, the authority earned Rs 141 crore of income by selling its big plots located near Brilliant Convention Centre in Scheme 78 and some other schemes. Besides, IDA’s properties on Super Corridor are additionally drawing high offers in the auction.

IDA officials are contemplating using its income as part of the estimated budget 2022-23 to initiate works on as many as seven new schemes and at least four flyovers.

IDA has received the needed sections to build its two planned schemes – TPS 9 and TPS 10 while the authority has already provided principal approval of a total of Rs 1,207.39 crore for creating five schemes - TPS-1, TPS-3, TPS-4, TPS-5 and TPS-8 along with developing as many as four flyovers at Khajrana, Tantya Bhil Square (Bhawarkuan), Mhow Naka and Luvkush Square by spending Rs 300 crores on it.

Indore Development Authority (IDA’s) board of directors had passed an estimated budget of Rs 524 Crore for 2021-22. Against the same, IDA authorities are claiming to have registered a considerable increase in its revenue in the current financial year while the same trend is likely to continue in years to come with the authority working on new residential and commercial projects and therefore, IDA is likely to present an estimated budget close to Rs 800-1,000 Crore for 2022-23.

Excited over obtaining high costs of its properties developed in different schemes, the Indore Development Authority (IDA) is anticipating at least a 100% increase in its income in the current financial year and a similar boost in the estimated budget for 2022-23.

Image Source

Also read: IDA approves 5 schemes to develop residential, commercial properties

The Indore Development Authority (IDA) earned Rs 141 crore of income by selling its big plots located near Brilliant Convention Centre in Scheme 78 and some other schemes. As per IDA’s CEO Vivek Shrotriya, on Monday, the authority earned Rs 141 crore of income by selling its big plots located near Brilliant Convention Centre in Scheme 78 and some other schemes. Besides, IDA’s properties on Super Corridor are additionally drawing high offers in the auction. IDA officials are contemplating using its income as part of the estimated budget 2022-23 to initiate works on as many as seven new schemes and at least four flyovers. IDA has received the needed sections to build its two planned schemes – TPS 9 and TPS 10 while the authority has already provided principal approval of a total of Rs 1,207.39 crore for creating five schemes - TPS-1, TPS-3, TPS-4, TPS-5 and TPS-8 along with developing as many as four flyovers at Khajrana, Tantya Bhil Square (Bhawarkuan), Mhow Naka and Luvkush Square by spending Rs 300 crores on it. Indore Development Authority (IDA’s) board of directors had passed an estimated budget of Rs 524 Crore for 2021-22. Against the same, IDA authorities are claiming to have registered a considerable increase in its revenue in the current financial year while the same trend is likely to continue in years to come with the authority working on new residential and commercial projects and therefore, IDA is likely to present an estimated budget close to Rs 800-1,000 Crore for 2022-23. Excited over obtaining high costs of its properties developed in different schemes, the Indore Development Authority (IDA) is anticipating at least a 100% increase in its income in the current financial year and a similar boost in the estimated budget for 2022-23. Image Source Also read: IDA approves 5 schemes to develop residential, commercial properties

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?