Indore Development Authority (IDA) is expecting at least 100% rise in its income in the current financial year and similar boost in the estimated budget for 2022-23.
According to IDA’s CEO Vivek Shrotriya, the authority on Monday earned Rs 141 Crore of income by selling its big plots situated near Brilliant Convention Centre in Scheme 78 and in some other schemes. Besides, IDA’s properties on Super Corridor are also attracting high bids in the auction.
IDA officials are contemplating to use its income as part of the estimated budget 2022-23 to initiate works of as many as seven new schemes and at least four flyovers.
IDA has received required sections to develop its two proposed schemes – TPS 9 and TPS 10 while the authority has already given principal approval of a total Rs 1,207.39 Crore for developing five schemes – TPS-1, TPS-3, TPS-4, TPS-5 and TPS-8 along with developing as many as four flyovers at Khajrana, Tantya Bhil Square (Bhawarkuan), Mhow Naka and Luvkush Square by spending Rs 300 Crores on it.
Indore Development Authority (IDA’s) board-of-directors had passed an estimated budget of Rs 524 Crore for 2021-22.
Against the same, IDA officials are claiming to have recorded a considerable rise in its income in the current financial year while the same trend is likely to continue in years to come with the authority working on new residential and commercial projects and thus, IDA is expected to present an estimated budget close to Rs 800-1,000 Crore for 2022-23.