Jaipur development body auctions plot worth Rs 4 crore
The festive season seems to have come as a boon for the Jaipur Development Authority (JDA), which auctioned a plot worth Rs 4 crore on Friday. This seems to be a positive sign for the JDA and the property market that has been facing a slump in the prices. JDA commissioner T Ravikant said that the higher rate in auction shows that people place trust in the JDA plots and this will hopefully continue. “Recently, under the Lal Kothi scheme, we auctioned a shop on three times more profit. The base price of the shop was Rs 1 lakh and 20,000 and we received Rs 3 lakh and 56,000. In October alone, JDA has earned Rs 25 crore as revenue from auctioning land,” said Ravikant. Recently, the JDA has reduced the reserve price of uninhabited land in its region by 10-37%. The decision was taken by the higher authorities looking at the slump in prices in the region and for many years, the inability to auction the plots.
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