Indore Development Authority (IDA) has identified a total 1,820 flats in its different apartments to be sold at ‘three-year-old rate’.
The price of these property will range from Rs 10 lakh to Rs 40 lakh/unit and thus, the same is expected to attract the buyers of the middle-income group the most. IDA had completed its apartments in Scheme 155, 134 and 136 before Covid-19 outbreak in 2020, but as no tender was invited to sell it, many flats in these buildings are lying vacant. The authority has decided to sell the same at the ‘three-years old rate’ (as of 2020) along with inviting tenders to sell flats in newly-constructed Amaltas Highrise Building situated in its Scheme 136.
According to IDA chairman Jaypal Singh Chawda, a total 1,820 flats of 1 BHK and 2 BHK in the apartments situated in aforesaid schemes will be put on sale that range from Rs 10 lakh and Rs 40 lakh/unit. “The tenders will be invited in this month only while the same will remain open for next six months” he said, adding that on receiving more than one tender for a property, the same will be sold through a lottery system.
As per the records, IDA has fixed rate of Rs 15.77 lakh for a 1 BHK flat of 52.77 square meter super built up area in Amaltas High Rise Apartment that has a total 672 units.
IDA’s Gulmohar Apartment has a total 144 flats while a 1BHK flat of 61.57 square meter super built up area will be put on sell at Rs 14.26 lakh while another apartment in Scheme 136 called Harshringar Campus has a total177 flats, each unit of 2BHK with 96 square meter super built up area will be put on sale Rs 36.5 lakh.
In Nipania’s Scheme 134 of IDA, a 2 BHK flat of 107 square metre super built up area on highrise campus (a total 25 flats) will be put on sell at Rs 40 lakh/unit while in its Scheme 155, IDA has fixed rate of 1 BHK flat with 77.41 square meter super built up area at Rs 15 lakh/unit (total 565 units), a 2BHK flat with 101.10 super built up area at Rs 20 lakh/unit (total 208 units) .