Rajasthan government to implement land auction policy soon

The state government is in the process of implementing the land auction policy soon as the initial draft of the policy has already been prepared. At a meeting chaired by urban development and housing minister Shanti Dhariwal here recently, the committee constituted to prepare the policy discussed the draft. The committee has provided several suggestions such a reducing the reserve price, earnest money deposited during auction, among others. The state government will bring the amendment in the state’s land disposal rules after discussing the suggestions. As the real estate market is facing a prolonged slump, the civic bodies failed to earn revenue after selling their housing plots. An official informed that the committee had suggested to evaluate a new formula to calculate the auction base price as per district lease committee ( DLC) and latest market price.