Indore (Madhya Pradesh): Several construction projects undertaken by the Indore Development Authority (IDA) have turned into financial burdens, with hundreds of unsold flats and incomplete projects. In Scheme 155, multi-story buildings with unsold flats have been lying vacant for years and now the IDA needs to spend money on their maintenance.

In Scheme 155, only 285 out of 847 flats have been sold, leaving 562 flats unoccupied. To prevent further damage, the Authority has now approved Rs 4.5 crore for maintenance and repair work, including painting, structural fixes, water supply, security and electrical maintenance.

The proposal was formally sanctioned in the recent board meeting. Scheme 155, which includes 847 flats, has been a major flop. Despite multiple attempts to lower prices, 562 flats remain unsold. Those who have purchased flats in these buildings are now facing numerous issues, leading to frequent complaints on CM Helpline and other public forums.

138 flats allotted in 2023

In April 2023, the Indore Development Authority (IDA) allotted 138 flats in Scheme155 through a lottery system.

Location good but still no sale

The apartments are situated in the heart of the city at around 3 km from Super Corridor and about 4 km away from Rajwada Palace. There are three gardens and the facility of lift, covered parking, boundary wall and fire safety arrangements.

Pricing of flats

The initial price of 2RK flat (total 35 units) starts from Rs 9.74 lakh, while 1BHK (total 565 units) and 2BHK (total 208 units) start at Rs 15.35 lakh and Rs 20.09 lakh.