Coimbatore: City Corporation has reduced the number of deposits for its facilities for rent by half to encourage people to take part in the bidding process.
The decision, taken recently, was approved at a special council meeting held at the presence of corporate commissioners King Gopal Sunkara on October 28.
The corporation has 48 facility – market areas, parking slots and paid toilets, among others – for rent and they are the main income generators.
This facility is rented every three years.
After successful offers, tenants must pay the number of rent to the civilian body.
This amount will increase by 5% every year.
With the end of the term of office three years earlier, the corporation had three steps initiated to rent facilities in the last three years.
However, it cannot complete the bidding process due to lack of interest between the bidders.
“One reason the bidder quoted is a high deposit amount.
Therefore, we have taken it down,” said an official to Ti “as well, the number of deposits for SantanLurur Weekly Shanty has dropped to Rs 1.37 lakh from Rs 2, 75 lakh.
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Corpn cuts deposits for facilities that must be rented by half
