The attempt by Greater Cochin Development Authority (GCDA) to revive its land bank project is yet to evoke a positive response from the State government, it seems.
The authority mooted the concept of inviting landowners to deposit land with it for a particular period. The GCDA will develop and sell the property and keeping ten per cent of the selling price with itself towards its development fund.
Under this project, the authority had requested the State government for permission to proceed with negotiations on acquisition of nearly 80 acres in Vennala.
“This is a strategically-important area of the city, as it is immediate outskirts of the city and holds immense potential of development. We could even consider projects like building a satellite township there,” said M.C. Josephine, GCDA chairperson.
However, the State government asked the authority to route the request through the District Collector. Accordingly, the request has been re-routed and the Authority is awaiting a response to it. “We have high expectations on this project,” said Ms. Josephine.