JDA to auction 85 hectare land and is expected to earn a revenue of Rs 3000 cr.
Jaipur: Luxury hotels, restaurants, resorts and high-rises will come up along the Dravyavati Riverfront, an ambitious project of the ruling Vasundhara Raje government.
The JDA has earmarked nearly 85 hectares of land on both sides of Dravyavati River between Shashtri Nagar and Vidhani.
As per the reserved value of the land in the area, the 85 hectares of land earmarked for this project is worth nearly Rs 1700 crore, but the market value will exceed Rs 3000 crore. This auction alone will cover the entire cost of the project, estimated to be in the excess of Rs 1500 crore.
The riverfront will have a cycle track with the Wi-Fi facility.
The walk-way will be lit up with smart lighting. There will be picnic spots and walk-ways.
Jaipur Development Commissioner Vaibhav Galaria was quoted as saying that the plan would not only provide convenience to people who will come to the riverfront for picnic or jogging, but also help JDA make a profit and recover the project expenses.
Over Rs 1500 crore are to be spent on the project. Nearly 40 percent work has been completed.
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