GDA To Sell Property At Throwaway Prices
GDA To Sell Property At Throwaway Prices,Its Difficult To Find Suitable Buyers For Residential Flats
The Ghaziabad Development Authority which had been constructing residential flats and other properties for almost two decades has found it difficult to find suitable buyers for the same.
The authority has now decided to sell its property at throwaway prices -- at 60 to 70per cent reduced prices -- it is reliably learnt.
A new scheme pertaining to commercial complexes and towers in Vaishali and Kaushambi has been floated by GDA for the purpose.
The decision to dispose of the property worth crores at throwaway prices has raised many questions. The commercial cell of GDA maintains that the reserve price is no rate as the bid price goes up many times. In case a particular bid does not bring attractive offer, the bid can be cancelled.
The towers built on 500 sq mt and 750 sq mt plots in Kaushambi, 219 one-room tenements built in Kaushmabi and 15-storey Ganga towers and commercial towers have been gathering dust for the past two decades. The GDA had tried to sell these towers many times, but could not succeed.
On May 27, 2005, the GDA had tried once again to sell these towers. But all that it could succeed in was selling four forms, and no prospective buyer had come forward to bid.
The big questions which call for a thorough probe are why the GDA repeatedly fails to sell its property, why it takes so long in officering its property to the public after registration and why it has to repeatedly revise its property prices which have umpteen times been rejected by court. There must be something basically wrong with working of premier UP government development agency.
The Ghaziabad Development Authority which had been constructing residential flats and other properties for almost two decades has found it difficult to find suitable buyers for the same.
The authority has now decided to sell its property at throwaway prices -- at 60 to 70per cent reduced prices -- it is reliably learnt.
A new scheme pertaining to commercial complexes and towers in Vaishali and Kaushambi has been floated by GDA for the purpose.
The decision to dispose of the property worth crores at throwaway prices has raised many questions. The commercial cell of GDA maintains that the reserve price is no rate as the bid price goes up many times. In case a particular bid does not bring attractive offer, the bid can be cancelled.
The towers built on 500 sq mt and 750 sq mt plots in Kaushambi, 219 one-room tenements built in Kaushmabi and 15-storey Ganga towers and commercial towers have been gathering dust for the past two decades. The GDA had tried to sell these towers many times, but could not succeed.
On May 27, 2005, the GDA had tried once again to sell these towers. But all that it could succeed in was selling four forms, and no prospective buyer had come forward to bid.
The big questions which call for a thorough probe are why the GDA repeatedly fails to sell its property, why it takes so long in officering its property to the public after registration and why it has to repeatedly revise its property prices which have umpteen times been rejected by court. There must be something basically wrong with working of premier UP government development agency.