Indore Development Authority Greenlights Ambitious Rs 1020.93 Crore Budget for 2026-27
The Indore Development Authority (IDA) Board has officially approved a comprehensive budget estimate of Rs 1020.93 crore for the 2026-27 financial year. This strategic financial plan is centered around the launch of three major transformative projects aimed at enhancing the city's infrastructure and economic landscape.
Focus on Execution and Bridging Budget Gaps
IDA CEO Parikshit Zade emphasized that the new budget prioritizes actual execution to address past discrepancies. In the 2025-26 financial year, the projected income was Rs 1,597 crore, but the actual realization was only Rs 573.18 crore. The 2026-27 budget is designed to close this gap between planning and reality, ensuring more effective implementation of development initiatives.
Key Projects Under the New Budget
The budget allocates funds for several high-impact projects, including:
- Startup Park: A high-tech hub to be developed on 8.2 hectares along the Super Corridor near the new ISBT. It will feature the tallest building in Madhya Pradesh at 87.60 meters, with Phase 1 including twin towers, a 4-floor shopping mall, corporate offices, and a parking tower. Subsequent phases will add an IT Building and a convention centre with a 5-star hotel. This Public-Private Partnership project has a 2-year completion target.
- International Convention and Exhibition Centre: A Rs 1,800 crore project spanning 17 hectares, offering 10,000 square meters of indoor exhibition space, conference halls, meeting rooms, and a 3-star hotel. It is expected to generate direct employment for 1,000 people, with Rs 1 crore allocated this year to initiate the PPP process.
- Infrastructure Enhancements: Key projects include the Chandan Nagar Flyover at Dhar Road Square, funded from non-scheme funds; the Luvkush Double-Decker Flyover with Rs 85 crore provisioned for remaining work; and a Multi-Modal Mobility Hub proposed near Vijay Nagar. Additionally, Rs 360 crore is allocated to complete Town Improvement Schemes covering 1,186 hectares, including 100 km of roads and 141 gardens.
These initiatives reflect IDA's commitment to fostering growth and improving urban living standards in Indore through targeted investments and collaborative efforts.
