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Cash-strapped Jaipur Development Authority moves to fix land banks, financial records
DNA  |  January 16, 2019

DNA Correspondent

The JDA is up balancing its financial and land bank records. After intense drives to remove encroachments from its properties, JDA is advancing to take possession of previously acquired land.

 

The authority is keen to gain control on all properties as urban development minister wants to bring down the reserve prices.

 

While the zone offices survey areas under their jurisdiction for a more market viable reserve price model, they are also instructed to get all JDA properties in their area on record.

 

Along with enlisting its stray properties for auction, the authority once again gears up for bigger projects. The projects that had been on hold for years due to stagnancy in real estate market are once again being reviewed for viability under the changed pricing.

 

Processes that were on slow track have gained pace after new administration took charge. Many of these cases were reviewed by the Jaipur development commissioner over this weekend. Among these were also the 1296 bigha mega residential scheme proposed at Nider area.

 

JDA had acquired the land nearly a decade ago but is yet to take possession of nearly 300 bighas of it.

 

As work at JDA comes to a cold-start, the government looks to induce a boost in the real estate sector in Jaipur. Demonetization, GST and RERA all have added difficulties for the real estate trade over the past few years.