Indore: IDA Sold Properties Worth ₹850 Cr In Last Fiscal Year

Indore (Madhya Pradesh): Taking advantage of the real estate boom the Indore Development Authority sold property worth Rs 850 crore in the last fiscal.

The Registration Department earned revenue of more than Rs 100 crore from registries of these properties.

The properties sold include plots, flats, shops and other properties.

If we look at the records of the last 5 years, properties worth Rs 308.64 crore were sold in 2019-20, but in 2020-21 it came down to Rs 250.67 crore, because of Covid.

This figure increased to Rs 438.35 crore in 2021-22. While properties worth Rs 499.60 crore were sold in 2022-23, this figure reached Rs 850 crore in 2023-24, breaking all previous records.

At the same time, the authority has spent about Rs 430 crore on ongoing projects and its TPS schemes in the last fiscal.

Principal secretary Neeraj Mandloi (Urban Development and Housing Department) who came to Indore on Wednesday, first reviewed the ongoing projects of the Indore Municipal Corporation and then of the Indore Development Authority and also gave necessary guidelines regarding pending projects.

In the meeting authority chairman and divisional commissioner Deepak Singh gave information about the cases resolved recently. More than 31 thousand cases ranging from registry, NOC, transfer, lease rent, freehold, lease renewal and change of address were settled, along with that the details of income and expenditure of the last 5 years were also tabled.

IDA’s TPS schemes, flyovers and other works were also reviewed.