Sandeep Singh, a small business of Jammu, was interested in purchasing a flat in his home town but he could not afford the price fixed by the Jammu Development Authority (JDA) - an agency of the Jammu and Kashmir Government.
Finally, Singh purchased a flat in Mohali, Punjab because the price of 2 BHK flats is almost half in the neighbouring state as compared to the flats constructed by the J&K Government's JDA.
Recently the JDA has issued a public notice to seek online applications for the auction of 144 flats in Lower Roop Nagar, Muthi area, in the outskirts of Jammu city.
These flats are ready to live and JDA has started the process of finding buyers for the same. JDA has sought applications for these flats from 27 December 2021. Anyone who wants to buy these flats can apply till February 28. The application fee has been fixed at Rs 1,000.
Not only this, the JDA is also going to auction one shop, four showrooms, and 27 halls in the shopping complex here.
As compared to the neighouring Punjab and Himachal Pradesh, minimum bids of these flats, constructed by the JDA in the outskirts of Jammu city, are almost double.
JDA has fixed a minimum bid of Rs 64.43 lakh for 2 BHK flats. The JDA is going to auction 72 flats. The flat will be allotted to the highest bidder.
Similarly, the initial bid of 3BHK flats has been fixed as Rs 80.02 lakh for 48 such flats. The minimum of 5 BHK flats has been fixed as 128.04 lakh. The JDA is going to auction 24 such flats.
J&K residents prefer to buy property in Punjab, Delhi
As the government agency JDA has fixed higher rates as compared to neighbouring states, residents of J&K prefer to purchase flats in Punjab or Delhi at affordable prices.
"Price of 2BHK flat ready to live in flat in Mohali is around Rs 30 to 35 lakh so why people but the same at the cost of nearly Rs 65 lakh in Jammu," Sandeep Singh told International Business Times. Singh further pointed out that the rate of 2 BHK flats in Delhi is almost the same or less than Jammu.
It is all due to the response of local people that Delhi and Chandigarh-based real estate companies had organized property-expo in the month of December 2021. The event received an overwhelming response from the people.
JDA also sellings plots on higher rates
Not only flats, but the JDA is also selling residential plots at triple the cost so the middle-class prefer to buy land for constructed houses from private landowners.
The JDA has developed four colonies at Birpur, Kot Bhalwal. Roop Nagar and Gol Gujral. Nearly 1,600 plots were allotted to people through a draw of lots. The prices fixed by the JDA were more than triple the actual cost in the locality. Moreover, these prices made private landowners hike the price of land in their localities.
Amit Khajurai, a resident of Jammu, recalled that the land rate was just Rs 2.5 to Rs 3 lakh per Kanal in the Kot Bhawal area near JDA Colony but the government has sold the same at Rs 1.25 lakh per marla.
Higher-ups of JDA not ready to speak on unaffordable prices of flats, plots
Despite repeated attempts, higher-ups of the JDA were not ready to speak on fixing unaffordable prices of the residential plots and flats.
JDA officers said that rates have been fixed by the higher authorities and their job is only to auction the flats by fixing the minimum bid.