Rs 160 crore IDA budget passed
THE LARGEST budget of the Indore Development Authority (IDA) in recent years totalling about Rs 160.65 crore was passed in a board meeting held today.india Updated: Mar 29, 2006 14:29 IST
THE LARGEST budget of the Indore Development Authority (IDA) in recent years totalling about Rs 160.65 crore was passed in a board meeting held today.
Speaking to media persons, IDA Chairman Madhu Verma said that the public would be gifted with a regional park on the likes of Hyderabad to be constructed around Pipliyapala at a cost of Rs 35 crore for which Rs five crore would be released in the initial phase in this budgetary year.
Another important budgetary allocation (non planned) included earmarking of Rs 26.23 crore on City environment improvement projects. Rs 10 crore have been allocated for development of a new administrative block at the present district collectorate premise.
Rs 54.50 crore have been allocated for construction of roads. The various projects under this head include Rs 9.50 crore for MR 10 (from Ring Road to Bypass) and for the road from Pipliyahana to Agriculture College to Shivaji Statue. Rs 8 crore for refurbishing and strengthening of the Ring Road, Rs 1.50 crore for asphalting of the roads in scheme number 114 and Rs 4 crore for other roads.
Rs 32.10 crore have been allocated for construction of bridges. The various projects under this head include Rs 8 crore for Juni Indore bridge, Rs 1 crore for Chhawani bridge, Rs 1.10 crore for Nehar Bhandara, Rs 3 crore for Kesharbagh bridge and Rs 5 crore as their share in the Palasia grid separator project.
A budgetary allocation of Rs 15 crore has been shown under expenses for construction of MR 10 Bridge to be built under the Build Operate Transfer (BOT) scheme.
Six thousand houses would be constructed under the Valmiki Ambedkar scheme from Central Government and HUDCO loans. The IDA has made a budgetary allocation of Rs 16.25 crore for this project.
Two hundred shops would be constructed in scheme number 59 AB Road and would be allocated to lower and middle-income group people through lottery/ draw system. Similarly, 3000 plots would be developed for lower income group people and HIG duplex flats would be constructed for high-end people in schemes 134, 140 and 145.
Under the head of public welfare the IDA would construct an OPD at MYH at a cost of Rs five crore, an old age home for Rs 70 lakh, blind peoples home at Rs 1.50 crore, auditorium in scheme 97 part IV or Rajendra Nagar at a cost of Rs one crore,
two swimming pools (one each in constituency one and Gumashta Nagar) at a cost of Rs 1 crore. Rs 2.50 crore would be spent on decoration of various squares in the City, Rs 3.48 crore on construction of foot bridges in Veer Savarkar Nagar, T Choithram, LIG and Martand Nagar. Rs 5 lakh would be given to the Indore Press Club for construction of their new building, Rs 25 lakh for development of Ranjit Hanuman temple and Rs 20 lakh for construction of toilets for women.
IDA Chief Executive Officer (CEO) CB Singh said that land diversion tax has been brought to 0.10 per cent instead of the earlier two per cent and the cess levied on change of name has been reduced to three per cent from the earlier ten per cent. The policy of declaring a property as free hold on receipt of lease rent in one instalment is under consideration at the State level as is the policy of removing difficulties in distribution/fragmentation of land.
New residential schemes would be started in 151, 159 and 165 schemes and an income of Rs 12 crore is expected from the multiplex plot situated in scheme number 54.
The revenue receipts have increased by Rs 33.83 crore, which is a record increase in compassion to the last fiscal. The IDA plans to sell 4824 plots and 296 houses in the new financial year.