Reserve prices slashed, Rs 2,020 cr approved for JDA

A high-power committee of Jaipur Development Authority (JDA) approved the authority’s budget of Rs 2,020 crore for the year 2018-19. The committee headed by urban development minister Shrichand Kriplani also gave nod to zonal development plans for 14 of the 16 JDA zones and slashed reserved prices of Abhinav Vihar extension, Uday Vihar and Surya Nagar A, residential colonies.

The reserve price reduction though might pinch those who have purchased properties at higher tariff. Though government feels it to be an essential measure. “It is to compensate for the difficulties being faced post demonitisation, the reduction of reserve price will help the authority in auction of properties,” said the minister. The JDA has recently been considering reduction in reserve prices and the real estate developers’ body has also been demanding the same to adjust with correction in real estate prices over past year.

The approval of zonal plans will help in regularisation of the unauthorised colonies at these zones. A high court order had restrained regularisation process till approval of the zonal plan. This, however, will take a while as the zonal plan will have to undergo process of inviting public objections and their solution thereafter. The plans for Zone 1 and 6 are also to be completed in the meantime.