The Hindu 16.09.2009
Civic body in Catch 22 situation
HYDERABAD: Cash-strapped Greater Hyderabad Municipal Corporation (GHMC) could have turned towards its own assets like the existing markets and shopping complexes to garner the much-needed extra income. Sadly, it’s in no position to make use of them productively due to lack of initiative to modernise or hike the rentals.
The civic body is sitting on prime real estate with as many as 25 markets having 2,376 shops and 21 shopping complexes with 685 shops spread across the twin cities in crucial locations like Panjagutta, Malakpet, old jail, Chikkadpally, Ramgopalpet, etc. While quite a number of shops in either of them have been lying vacant for sometime, poor maintenance and delay in finalising quantum of rental enhancement is keeping away potential tenants.
Poor income
Annual income of Rs. 16.28 crore as rents from both the markets and shopping complexes appears sizeable when the fact is it could easily be doubled if not trebled provided adequate measures are taken to modernise them. It could also issue the shops afresh considering many tenants pay ridiculously low rents.
For more than a decade, GHMC has been contemplating to go for fresh constructions in these sites especially those of the old markets. The proposed new markets were to have adequate parking facility even while ensuring that none of the existing tenants lose out. However, these plans have not taken off despite a couple of firms making designs available and presentations made to powers that be.
“We have not been able to find suitable spaces to relocate the existing tenants to take up new constructions,” explained an official. Current rentals could have been enhanced in the meantime but it got lost in a maze of bureaucratic hassles. A private agency assigned for the task of fixing proper rents last year is yet to submit any report. So far, there is no indication of the estate wing taking any steps to nudge the agency.
