Ghaziabad Earns Record Rs 58 Crore Revenue from Auction of 23 Plots

                Ghaziabad: GDA managed the highest single-day revenue collection in recent memory — mopping up Rs 58 crore from the auction of properties in various housing schemes, 
including Indirapuram Extension.
"The development authority auctioned 23 properties on Wednesday, primarily residential plots. A maximum of 14 plots were auctioned under the Karpuripuram housing scheme, 
generating a revenue of Rs 18.2 crore. Two plots under the commercial category and three residential ones were auctioned at the Indirapuram housing scheme, fetching Rs 37.9 
crore," said Pradeep Singh, additional secretary at GDA.
One residential plot each was auctioned in other housing schemes such as Govindpuram, Radhakunj, Shastri Nagar, and UP Border, generating revenue of Rs 57.2 lakh, Rs 1.4 crore, 
Rs 2 crore, and Rs 21 lakh, respectively.
"GDA garnered a revenue of Rs 58 crore in a single day, the highest in recent times. This will help us build a financial reserve for our Harnandipuram township," Singh said.
Indirapuram Extension is one of GDA's recent schemes. The project will be developed on 30,000 sqm, which will be divided into 47 residential and three commercial land parcels.
Earlier in Aug, the GDA board approved a proposal to divide the Indirapuram Extension land parcel into smaller plots. The DM circle rate in the area is Rs 95,000/sqm for residential 
properties and Rs 1.15 lakh/sqm for commercial plots. Sources in GDA said the authority was eyeing a revenue of over Rs 285 crore from the housing scheme.
With this renewed interest in GDA properties, prospects look brighter for Harnandipuram, which is being developed across 521 hectares. Around Rs 10,000 crore is likely to be spent 
on developing the township, with a significant portion needed for acquiring land at mutually agreed rates from farmers. GDA and the state govt will equally share the cost.

Source : Times of India