VMC to auction plot to raise funds

EXPRESS NEWS SERVICE

VADODARA, Dec 3: To raise funds for laying model roads and building flyovers, the Vadodara Municipal Corporation has decided to auction 13 of its plots for an estimated Rs 37.78 crore. The decision was taken in the Standing Committee, which met under the chairmanship of N V Patel on Thursday. The plots in Town Planning scheme number 11 range up to 6,566 sq m. The offset price for the plotted land is Rs 6,250 per sq m, while the unplotted land will go for at Rs 5,000 per sq m. The prices were fixed by a valuation committee appointed on July 30, 1998.

The amounts raised thereof will also be spent on augmenting the existing water supply system and setting up new sewage treatment plants. In the budget for 1998-99, the VMC has proposed to raise Rs 7.5 crore by selling land.

Meanwhile, the VMC on Thursday auctioned about 25,00 sq m of land at the rate of Rs 7,002 per sq m. The land in Karelibaug has been purchased by National Building Construction Company Limited. Deputy Municipal Commissioner H S Patel told Express Newsline that the VMC would get an estimated Rs 1.75 crore from the auction. The plot was auctioned in the afternoon.

In another decision, the Committee approved the administration's proposal of giving the GEB 400 sq m of land in Sama on a 99-year lease at the token annual rent of Re 1 and a one-time payment of Rs 5,000 per sq m.

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