Rajasthan News

JDA done land deal worth Rs 73.22 crore

by RajasthanDirect
Jan 09, 2014

The Jaipur Development Authority (JDA) set out a landmark deal providing some relief from financial crisis in the authority. On Wednesday, JDA sold its prime land located near Bais Godam of nearly 4,722 sq metre worth Rs 73.22 crore to National Building Construction Corporation.

The JDA received a whooping Rs 15,550 per sq metre at a bidding from the single participant.

“It’s a big deal for JDA after a gap of one-and-half years. For the past four months, the authority has only earned a revenue of Rs 4.10 crore from auctioning land,” a finance official with JDA said.

“This is the biggest land auction price ever received by the JDA. The adjoining land was sold in Rs 1, 54,950 per sq m, but ours was a huge chunk. For a property of 4000 square metre, the highest bid price received was Rs 89,000 per sq m,” he added

The JDA put the land under hammer for the third time after taking it possession from the Bharat Petroleum Corporation Limited (BPCL).

“In the last auction, the highest bid received was Rs 1, 39,250 per square feet. The land could not be sold on that price as the adjoining land had gone up to a much higher price. This is the reason the re-auction was conducted,” a JDA official said.

The deal on Wednesday has boosted the spirits of JDA officials . However, with projects and maintenance work of worth Rs 1,500 crore in its bouquet, JDA will have to look for other options to fill this huge financial gap. The cash deficit is already hurting many ongoing projects.

Meanwhile, the owner of adjoining 15,208 square meters land who purchased at Rs 235 crore (biggest land deal in Jaipur) has approached to the court after the JDA issued notice to confiscate the deposited amount. The JDA defaulted to cancel the allotment as the firm was defaulting in depositing the fixed installment. “There was a hearing in court today; however, the firms lawyer has sought further extension,” an official said.

Last year, a Kolkata-based firm, Star Commosales and a businessman from Sriganganagar jointly won the bid. “The owners have to pay the amount in four installments. There is a due of nearly Rs 24 crore, including interest and penalty . The JDA has issued around eight notices to deposit the amount,” the official said.

src: http://timesofindia.indiatimes.com/city/jaipur/Finally-JDAs-prime-land-sold-for-record-amount/articleshow/28570959.cms

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