in

Jmc To Auction Plots, Shops To Raise Income, Real Estate News, Realty Beat

Jmc To Auction Plots, Shops To Raise Income, Real Estate News, ET RealEstate
JAIPUR: Jaipur Municipal Corporation (JMC) Greater will soon auction residential plots, shops and kiosks in three important locations of the city helping them to increase the revenue of the corporation.

Around 72 shops and 10 kiosks near World Trade Park will be auctioned along with 14 residential plots in Gandhi Vihar scheme near the airport and 24 residential plots & two commercial plots in Gandhi Enclave Scheme at Sirsi Road.

Through this sale, the corporation is expecting to earn more than Rs 60 crore of revenue as these plots are in a prime location. The Reserve price of the Gandhi Vihar Scheme near the airport is kept Rs 20,000. For Gandhi Enclave Scheme the reserve price for the commercial plots is Rs 32,000 and for residential plots is Rs 16,000.

Now the most profitable reserve price is for the WTP shops and kiosks which is kept Rs 35 lakhs for shops and Rs 21.9 lakh for Kiosks. The auction will be done online on January 14.

Officials at JMC, Greater said that this is a very important auction for the corporation as they are already cash crunched. “This is an important auction as after long-time good funds will be generated in the corporation that we need for our survival. The majority of the development works are stopped because we don’t have enough money to pay the contractors but with the auction, some relief will come,” said an official on condition of anonymity.

There is, however, a fear amongst the officials whether the bid will be as expected due to a bad economy and pandemic impact. If another lockdown fear is there in the consumers, then it is expected to have an impact on the auction as well.


What do you think?

Presented by Realty Beat

Offices Of 2 Developers Shut In City Over Dues, Real Estate News, ET RealEstate

Offices Of 2 Developers Shut In City Over Dues, Real Estate News, Realty Beat

Cidco Includes 32 Villages In Khopta New Town Devpt, Real Estate News, ET RealEstate

Cidco Includes 32 Villages In Khopta New Town Devpt, Real Estate News, Realty Beat