Indore Development Authority earns Rs 141 cr by selling big plots

31 Mar 2022 CW Team

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.

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

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