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Govt. agencies wait for right time for better values

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Despite the slow economy the govt. agencies are on full swing to allot plots to commercial units to develop construction at major locations of the eastern metro – Kolkata. Source of www.propertykhazna.com also reveals that these agencies are also waiting for better times to gain lucrative margin for their sale. Recently KMDA has made their moves to auction around 100 acres of land at Nonadanga for a commercial park. The progression of bidding is also getting ready for more at other few areas of the city.
On a short note with www.propertykhazana.com an official of KMDA states that “recession has down marked the realty price across the country and hence the developers are not as attracted towards the plots for a huge bracket of cash. So we will be restarting the process once the better time arrives”.
Source of www.propertykhazana.com also reveals that in 2005 KMDA fetched around Rs 210 crore by disposing its 6.3 acre plot off EM bypass to Emaar MGF and at the same time it made the records of receiving Rs 155 crore for another plot of 5 acres at the same vicinity. For last year KMDA has done well enough with few dealing in the posh locations of Salt Lake, Garia, Sonarpur and other localities of the eastern metro. For more and latest realty updates follow us at www.propertykhazana.com.
Source: NBTVLIVE

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