The Hindu 12.09.2014
Corporation may monetise land assets
The civic body may soon lease, sell, acquire or redevelop land to raise its own resources to fund civic infrastructure projects.
According
to an interim report of the revised city development plan, presented by
a consultant on Thursday, the Chennai Corporation is likely to adopt
different modes, including monetising land assets, for revenue
generation.
“The city development plan covers
innovative ways of raising our own resources for vision 2023. We may
find ways to raise alternative methods of finance,” said an official.
The
consultant has suggested advertising, monetising land assets and
capital markets as options to be adopted by the Corporation for creation
of new infrastructure.
The civic body will also
start identifying civic infrastructure that can be used for advertising
by private entities. Space on bridges, roads, public buildings, bus
shelters, parks, public toilets and beaches will be used innovatively
for generating advertising revenue without harming the environment.
“We
are looking at sustainability. We have identified infrastructure gaps.
Funding required to fill these gaps will be reviewed,” said the
official.
Infrastructure deficiencies for each
residential neighbourhood and a long list of investment plans will be
generated based on the outcome of workshops with residents.
This is the first such initiative after expansion of the Corporation limits.
Space on bridges, roads, bus shelters, will be used innovatively for generating ad revenue