The Vadodara Municipal Corporation (VMC) is looking to make major changes in the conditions for auctioning land in an attempt to raise funds. The civic body is eyeing to sell 46 plots in different areas of the city and has set a target of raising Rs 133 crore from the auction.
For this, the civic body has made several changes in its procedures to ensure that the land parcels it owns and wants to put under the hammer find takers in the market this time, unlike its previous attempts.
One of the major changes that it has proposed is of selling the land instead of giving it on a lease for 99 years. So far, the VMC only leased out its land which proved to be a major hurdle. It is also looking to sell land to government, semi-government and local self-government bodies without getting into the auction process. The VMC is also looking to give land at half prices for hospitals and schools. The changes have been made in line with a recent government resolution regarding auction of land.
Another major change it has done is the need to approach the general board for getting the valuation of plots cleared and then approaching it again with the proceedings of the auction. This process has been done away with.
The VMC has also re-evaluated five plots in the city as they had been valued in 2017. Attempts were made to auction these plots on 99 years’ lease, but were unsuccessful. VMC is getting them re-evaluated as the valuation was old and market conditions and procedures have changed since.
The civic body has also got valuation of 23 other plots in the city done through its valuation committee. A proposal regarding auction of another 18 plots is also pending with the general board of the VMC.
