+
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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code