Indore Development Corporation will build residential and commercial structures.
On March 7, the board of directors of the Indore Development Authority (IDA) approved five new schemes totaling Rs 1,750 crore to develop residential and commercial properties as well as major roads. Administrative approval has also been granted to build two flyovers at Khajrana and Luv Kush Square, with a total cost of Rs 137.50 crore.
“We approved developing five new schemes in the board meeting after clearing around 700 claims and counter arguments gotten in this regard,” said chairman Jaypal Singh Chawda, going to add that the plans have been sent to the state government for permission. “New five schemes, including TPS-1, TPS-3, TPS-4, TPS-5, and TPS-8, are expected to begin by June this year, with road projects receiving priority as part of said schemes,” he said.
He went on to say that the five schemes will result in the construction of a total of 29 kilometres of road.
TPS-1 will be built on 49.079 hectares in Khajrana at a cost of Rs 145.73 crore, while TPS-3 will be built on 143.382 hectares in Lasudia Mori, Talawali Chanda, Arandiya, and Mayakhedi at a cost of Rs 335.5 crore. TPS-4 will develop 85.387 hectares of land for residential, transportation, and a master plan road with a budget of Rs 215.83 crore.
TPS-5 will develop residential plots and a master plan road on 159.544 hectares of land in Kanadia for Rs 346.96 Crore, while TPS-8 will develop 301.842 hectares of land in Bhawrasala, Kumedi, Bhangya, Kailodhala, Sudiyamori, Talawali Chanda, Shakarkhedi, and Arandiya villages for Rs 706.67 Crore.
The IDA board meeting, which was attended by collector Manish Singh, IMC Commissioner Pratibha Pal, and IDA CEO Vivek Shrotriya, also provided administrative approval of Rs 57.5 Crore (+ GST) to develop a six-lane bridge at Khajrana Square, as well as a six-lane flyover at Luv Kush Square.
Aside from that, IDA officials are looking into the feasibility of building nine flyovers over the city’s major squares to help alleviate traffic congestion.
IDA also decided to name its under-construction near the MR-10 bridge during the meeting.
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