Indore Municipal Corporation (IMC) has seized and put on auction to recover around Rs 23 crore property and other tax dues.The bids, with a base price of Rs 31.80 crore, will be opened on Wednesday evening after 5 pm.
Experts expect that the market value of the land is significantly higher than the collector’s guideline.IMC additional commissioner Abhilash Mishra said, “We have taken symbolic possession of land in Sahara City Homes to recover dues totalling Rs 22.94 crore. Participants in the auction must submit a demand draft of about Rs 1.59 crore. Interested bidders have already taken at least five forms, and more are expected before the bid opening. The land, situated on Indore Bypass, will be sold to the highest bidder”.
Successful auction of the land will help the civic body get close to its current financial year’s target of revenue collection. With only five days left to complete this fiscal year, IMC is still around Rs 100 crore behind from meeting its target of around Rs 760 crore of revenue.
Senior officials have also started approaching big ‘defaulters, including public entities to clear their dues by March 31.
Indore district administration is also reviewing records for any outstanding dues related to land diversion of Sahara City Homes colony. If any dues are found, they will stake a claim to clear them from the bid amount after dues of IMC are settled.