An official said, “Commercial activities are already going on these major roads. The JDA will prepare a plan which will include parameters such as size of a shop, link road, parking, height and others. The decision was taken in the Building Plan Committee (BPC) and implementation would be done soon.”
The JDA plans to earn revenue of Rs 1,000 crore after issuing the lease deeds to these establishments. The cash-strapped JDA is finding out innovative ways to earn revenue as it is facing funds shortage to carry out development works.
An official source said, “JDA is desperate to earn revenue as it has to pay approximately Rs 30 crore installments against the loan taken from National Capital Regional Planning Board for Dravyawati River and Railway over-bridge. Moreover, it has to carry out several new projects including civil lines RoB, Govind Marg elevated road etc,” said a source
The JDA has taken loans totalling Rs 2,250 crore from NCRPB for the city’s major projects. The JDA sought funds from the Centre for ROBs and the elevated road.
With the real estate market facing a slump, the situation in (JDA) too looks grim due to fund shortage. With less than Rs 65 crore in the authority’s account, the development of the city in near future looks bleak. In financial year 2020-2021, the JDA has proposed to earn Rs 1,500 crore after auctioning land. However, seeing the market condition it looks nearly impossible to achieve the target.
A JDA official said, “The fixed expenses such as remuneration of employees and payment of contractors are high. We have also invited tenders for many civil works for road patch work, drainage, gardens etc. The work will be taken on priority basis.”