There are 19 other small properties to be auctioned in this month.
Sidelining the possibilities of DLC reduction the Jaipur Development Authority (JDA) is planning a ‘Grand Auction February’ in JDA.
The properties of more than 10,000 square meter size each are scheduled to come under hammer during the month and the authority expects to generate more than Rs 100 crore from auction of the two properties.
There are 19 other small properties to be auctioned in this month. The JDA officials have meanwhile indicated that DLC rates might not be relaxed for now.
“There are two grand auctions planned for February, one to be held on February 5 will see auction of two multipurpose properties at Mahal Road of total size of 18,372 square meter while the second grand auction will be held on February 11 of a 10,000 square meter commercial plot at Gandhi Path,” informed a JDA officer. The authority has set a base bidding price of Rs 21,000 per square meter for the Mahal Road properties and envisages to generate at least Rs38 crore from the deal.
The Gandhi Path property’s base price is set at Rs 77,000 per square meter and it is also expected to yield another Rs 80 crore or more to the JDA. The fat deals though come at a time when the real estate market has been under financial crunch and the government is contemplating on lowering the DLC rates.
It is on the DLC rates at which the JDA maintains its base price and the urban development minister Shanti Dhariwal had recently recommended to reduce the rates to help the authority sell more properties.
However, many of the JDA zone commissioners have reportedly said no to any need to reduce the DLC rates in their respective area.
Meanwhile, the JDA facing cash crunch, claims partial success in its auction attempts. The authority was able to auction at least seven of its properties in January this month of which three residential properties in Chitrakoot fetched nearly Rs57,000 per square meter while a commercial property in Vidhyadhar Nagar went for more than Rs 2 lakh per square meter.
It may be recalled that Urban development minister Shanti Dhariwal had recently expressed resentment on the prevailing DLC rates across various local bodies in state. The minister during a meeting with officials of the local bodies had called for a review and possible reduction in the rate slabs. “The DLC rates increased by upto 40 per cent during tenure of the previous government, these unreasonably high rates made it difficult for local bodies to auction their land and this has come to deteriorate their financial structure,” he had said.
Under Hammer
The properties of more than 10,000 square meter size each are scheduled to go under hammer during in February and JDA expects to generate more than Rs100 crore from auction of two properties. There are 19 other small properties to be auctioned in this month.
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