Jaipur Development Authority receives good response for land auction
An official said the highest bid received for the land was Rs 1,09, 500 per sq m. On Tuesday, the JDA earned nearly Rs 89 crore through auctioning a big chunk of land measuring 8098. 74 sq metres situated at Tonk Road near the airport.
A senior official of finance wing said “In the past two days, we have earned Rs 100 crore. The JDA has sufficient funds at present to carry out development work,” The officer also said bidding started from Rs 90,000 per square metre. Similarly, on Wednesday, the JDA earned nearly Rs 11 crore by auctioning four residential plots in Vaishali Nagar area.
The permission will now allow JDA to fill its coffers by auctioning the land at higher prices. And now JDA is eyeing Rs 200 crore revenue from a land at Tonk Road. Recently, Airports Authority of India (AAI) clearance on raising the height of buildings at Bajri Mandi on Tonk Road to 33.5 metre has come as relief for JDA.
The auction was postponed both the times as the height provided failed to woo investors and buyers. The 16,000 square metre land situated near the airport has been put under the hammer twice.
An official said, “JDA is yet to receive the clearance letter from AAI. However, the permission has been granted.” Now, JDA is expecting to earn Rs 200 crore revenue by auctioning this land. The initial bidding price is expected to be fixed between Rs 90,000 and Rs 1, 00,000 per square feet.
The proposal was later forwarded to the authority for the final approval. A JDA source said Seeing the land was situated on prime location, the proposal to shift the building was shelved.” The decision to construct the new JDA building on the same land was taken too. “The nod was also given on the project works committee (PWC) meeting on June 13, 2012.
JDA had to cancel the proposal to construct its new building on the same land as huge revenue was expected by auction. Earlier, construction only up to 30 metres was permissible on this land.
Source: Times of India
AAI, Airport, Bajri Mandi, housing scheme by Jaipur Development Authority, Infrastructure, Jaipur Development Authority, Jaipur Development Authority (JDA), PwC, Tonk Road, Vaishali Nagar area
