Indore (Madhya Pradesh): In a significant step toward planned industrial and residential development, the MP Industrial Development Corporation (MPIDC) on Tuesday allotted 200 plots in the Smart Industrial Township at Sector-7, Pithampur , through a software-based lottery system.
The allotment includes 4 commercial plots and 196 residential plots , with a total estimated value of Rs 21.57 crore .
The Smart Industrial Township is being developed under the Madhya Pradesh Investment Area Development Rules , with MPIDC as the implementing agency.
Land for the project is being acquired using a land pooling method , based on mutual consent with landholders. As part of the compensation process, landowners receive double the Collector Guideline value , with 20% paid in cash, and the remaining 80% compensated by developed plots within the township.
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Himanshu Prajapati , Executive Director of MPIDC, shared that land acquisition in Sector-7 took place between January 1 and September 1, 2023 .
On Tuesday, those landholders who had completed the process and registered their sale deeds were allotted their respective plots via a transparent, software-based draw held at the MPIDC regional office .
Prajapati further informed that a second round of allotments for remaining eligible landowners from 2023 will take place on August 22 , also at the regional MPIDC office.
