Millennium Post

NDMC to lease out properties to tide over financial crisis

North Delhi Municipal Corporation has decided to lease out its vacant properties and plots to tide over the financial crisis. The corporation is going to conduct a fresh survey of such properties which can fetch revenue without significant investment.

‘We will soon conduct a survey of all our properties and vacant plots in the city which can be commercialised. These properties will be given on lease to private organisations for development on public-private partnership model,’ said a senior officer of NDMC.

‘The corporation has several vacant plots in its six zones — Civil Lines, City, Karol Bagh, Sadar Paharganj, Narela and Rohini zones — in addition to some buildings,’ the officer added. The officers and leaders of the corporation often complain of fund crisis. The corporation claims high debts because of ‘low revenue and high responsibilities’ and aims to address the problem through the planned move.

‘Delhi government gives us loans for sanitation and development works but gives grant to its own departments for the same type of works,’ said Mahinder Nagpal, l of House in North DMC. According to accounts department, the corporation had taken over Rs 542 crore in loan from the Delhi government which and could hardly pay back even the interest.
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