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Indore Development Authority New Budget 2015-16 for Housing Development


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  • Indore Development Authority New Budget 2015-16 for Housing Development

    The budget for 2015-16 has been approved on Tuesday by Indore Development Authority (IDA) and the budget primarily focuses on developing affordable houses and other developments. The budget of 2015-16 has considerably cut down as compared to the last year’s budget.

    For development projects, IDA proposed a plan of Rs 368.43 crore which is estimated to gross Rs 373.78 crore by the end of financial year. IDA chairman Shankar Lalwani said that Learning from the past experiences, we have decided to downsize the budget estimates this year and put forth a realistic one. In 2014-15, the board proposed to spend `548.50 crore on developmental projects, but could only spend Rs. 238.89 crore by the end of the financial year.

    The proposed budget mainly focuses in developing housing projects and houses for LIG and MIG categories of the society. IDA has a plan to construct 594 houses for EWS, 1,700 houses for LIG and 500 other housing units. The budget proposal is in accordance with the accordance of Indore Development Plan 2021. According to the budget IDA will construct 2,800 houses; 594 for economically weaker sections; 1,700 for low income groups.