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The Indore Development Authority (IDA) will auction 600 flats, 40 shops, and 24 plots, targeting INR 261 crore in revenue, as part of a strategy to fund urban development. The decision, finalised at a recent board meeting led by senior city officials, also advanced several critical infrastructure projects. Approved works include feasibility studies for an elevated corridor from Malwa Mill Square to Rasoma Square, and flyovers at Rasoma Square and Robot Square. Additionally, INR 16.98 crore was allocated to upgrade sewage treatment at Scheme No. 166. Land allotments were made to the Food Corporation of India and the Agricultural Produce Market Committee. The board also approved INR 90 crore for projects like a bridge over the Kanh River and a 34-lakh litre water tank. IDA's combined focus on asset monetisation and infrastructure upgrades aims to support Indore's sustainable urban growth.
The Indore Development Authority (IDA) has taken a significant step toward generating revenue and promoting urban growth by announcing the upcoming sale of 600 flats, 40 shops, and 24 plots, with an expected revenue target of INR 261 crore. This decision was reached during a recent board meeting chaired by senior officials including the Divisional Commissioner Deepak Singh, Collector Asheesh Singh, Indore Municipal Corporation (IMC) Commissioner Shivam Verma, and IDA CEO RP Ahirwar. Advertisement
The authority has compiled a detailed list of properties for sale and is preparing to issue tenders to prospective buyers shortly. This initiative reflects IDA's commitment to catering to Indore's expanding housing and commercial infrastructure needs, while bolstering its financial position for further development projects.
In addition to property sales, the IDA board gave approval for several crucial infrastructure initiatives aimed at enhancing connectivity and urban facilities. An agency has been appointed to conduct feasibility surveys and prepare tender documents for the proposed elevated corridor connecting Malwa Mill Square to Rasoma Square, passing via Patnipura Square. The elevated corridor is expected to ease traffic congestion and improve mobility in the city's busy zones.
Moreover, the board sanctioned feasibility studies and tender proposals for two flyovers located at Rasoma Square and Robot Square on the Ring Road. These approvals follow earlier directives where the authority had decided to conduct such studies and invite tenders to expedite these critical infrastructure developments.
On the civic utilities front, the board sanctioned INR 16.98 crore to the IMC to enhance sewage treatment capacity at the sewerage treatment plant located in Scheme No. 166. This funding will support the treatment of wastewater, addressing the city's sanitation needs more effectively.
Further land allocations were also approved during the meeting. The Food Corporation of India (FCI) received an industrial plot in Scheme 78 Phase-2, while a plot on the Super Corridor was allotted to the Agricultural Produce Market Committee (Mandi), highlighting IDA's role in facilitating industrial and agricultural market infrastructure.
To strengthen urban infrastructure, the board approved minimum tenders worth INR 90 crore for various development works. These include the construction of a bridge over the Kanh River on MR-12 and the erection of a 34 lakh-litre capacity water tank in Schemes 151 and 169B. These projects are integral to improving connectivity and water supply in the region.
The IDA's multi-pronged approach, combining asset monetisation with essential infrastructure upgrades, marks a concerted effort to ensure the city's sustainable growth and enhance the quality of life for residents.
The Indore Development Authority's plans to auction a substantial number of residential, commercial, and industrial properties, alongside approving critical infrastructure projects, signal a robust strategy to meet the city's evolving urban demands.
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