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Lottery for two housing schemes oversubscribed by 10 times, Real Estate News, ET RealEstate

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Jaipur: Lottery for two housing schemes oversubscribed by 10 timesJAIPUR: Having received 10 times more applications than the proposed number of plots, the Jaipur Development Authority (JDA) on Tuesday drew the lottery for its two housing schemes.

As these schemes are not being developed in far-flung areas, many buyers showed interest to buy plots at these locations despite slowdown in the real estate market. The JDA has proposed to develop 359 plots both the schemes, Mohan Lal Sukhadia Residential Scheme and Priyadarshini Nagar Yojana.

The reserve price for Mohan Lal Sukhadia Residential Scheme has been fixed at Rs 9,500 per square metre and the reserved rate of Priyadarshini Nagar Scheme is Rs 12,500 per square metre. Under the scheme, 10% employees of Central and state government departments and state undertakings, six per cent for scheduled tribes, nine per cent for scheduled castes, five per cent for disabled, two per cent for accredited journalists and 10 per cent for ex-servicemen along with their families have been reserved. In an attempt to fill its coffers, the JDA had planned to launch these schemes. ‘Priyadarshini’ scheme will be launched near Muhana village in zone 11. The civic body will develop 187 plots. The smallest plot size in this scheme will be 45 square metre. Plot size of 90 square metre and 50 square metre will also be developed in this scheme.

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