The Uttar Pradesh government plans to refurbish and relaunch properties worth around ₹30,000 crore across development authorities, including nearly ₹1,000 crore worth of assets in Moradabad.
The UP government property sale plan will target thousands of crores worth of plots, flats, shops and residential and commercial properties that have remained unsold across the state’s development authorities.
The government plans to improve and present these properties in a more attractive manner before putting them back on the market. The move aims to unlock capital currently tied up in unsold government properties.
Moradabad Development Authority Assets Included
The Moradabad Development Authority (MDA) has a significant share of these unsold properties. Its assets worth around ₹1,000 crore are expected to undergo a relaunch after necessary improvements.
The properties include residential plots, shops, flats and residential and commercial assets spread across several MDA schemes.
These include Sitapuri-Das Sarai, Amrit Kunj, Udyog Vihar and Dhakka’s Aravali area, along with properties linked to the PM Housing Scheme.
Some plots also remain reserved for residential projects and schools.
Government to Improve Infrastructure
Officials plan to improve the presentation and surrounding infrastructure of vacant plots before launching them for sale.
The work may include improving roads, lighting, parks and other basic facilities around the properties. The government will provide funds for these improvement and beautification works.
The objective is to give prospective buyers a clearer view of the development and facilities available around each property.
After completing the improvements, the MDA will offer the properties for sale at existing rates.
Slow Sales Prompt Fresh Strategy
The development authorities have struggled to sell several properties despite keeping them available for extended periods.
In Moradabad, only around 60 to 70 houses from various MDA schemes were sold over the past year, according to the information provided.
The government now plans to make such properties more marketable rather than leaving them vacant and tying up public funds.
The broader UP government property sale initiative could therefore provide development authorities with a way to recover funds while giving buyers access to government-developed residential and commercial properties.
5 Key Takeaways
- The UP government plans to sell properties worth around ₹30,000 crore.
- Moradabad Development Authority has around ₹1,000 crore worth of properties lined up for relaunch.
- The assets include plots, flats, shops and residential and commercial properties.
- Authorities will improve roads, lighting, parks and other facilities to attract buyers.
- MDA plans to sell the properties at existing rates after the improvement work.
