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Financial Management

Parking lots’ auction fetches MC Rs 3.18 crore revenue

Tuesday, 16 November 2010 10:41 administrator
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Indian Express   16.11.2010

Parking lots’ auction fetches MC Rs 3.18 crore revenue

Express News Service Tags : Municipal Corporation, MC, auction of paid parking lots Posted: Tue Nov 16 2010, 01:52 hrs

Chandigarh:  The Municipal Corporation (MC) earned Rs 3.18 crore revenue through the auction of paid parking lots held today. The highest price was fetched by the one in Sector 35 which was auctioned for Rs 61 lakh. For some of the parking lots there were single bidders; so these were not auctioned.

In May this year, the auction of parking lots had been at a price much higher than the reserve price. However, today’s auction saw the prices being near the reserve price. The parking lot in Sector 35C that fetched Rs 61 lakh had a reserve price of Rs 60.75 lakh. That at Sahib Singh & Sons was auctioned at Rs 38.26 lakh against a reserve price of Rs 37.35 lakh.

The parking lot near Empire Stores, Sector 17, fetched Rs 31.25 lakh, Sector 8 Zone I Rs 30.11 lakh and Sector 35B at Rs 19.05 lakh. The idle truck parking in Sector 26 was auctioned for Rs 52 lakh against a reserve price of Rs 46.31 lakh. Eight of the parking lots that were auctioned today would be semi-automated. These include four in Sector 17 and two each in Sectors 22 and 35.

While the civic body had earlier decided that one of the parking lots would be fully automated, the proposal has been dropped. Parking lots at certain locations could not be auctioned as only single bidders came forward. These include the parking lot at Sector 34 and another at Fun Republic, Manimajra. No bids were received for the Tourist Bus Parking at Manimajra.  The Municipal Corporation has been able to auction the parking lot at the District Courts after the reserve price was reduced. There had been no takers for this parking lot in the past two auctions.

In the past few months, many contractors had given up the parking lots stating that they were finding it unfeasible to manage these. One of the reasons was the high prices at which these had been taken in the auctions. The last auctions scheduled had been boycotted by contractors as they wanted the Municipal Corporation to install the equipment for automation and semi-automation, a demand that the MC has agreed to. The auction was held under the chairmanship of Additional Commissioner TPS Phoolka, in the presence of Councillor Pardeep Chhabra and concerned officials.

Last Updated on Tuesday, 16 November 2010 10:44
 

GHMC budget around Rs 3,226 crore

Monday, 15 November 2010 11:36 administrator
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The New Indian Express  15.11.2010

GHMC budget around Rs 3,226 crore

HYDERABAD: Draft budget proposals of the Greater Hyderabad Municipal Corporation (GHMC) are in their final lap. They reportedly propose to increase the budget outlay by 15 to 20 per cent in the next financial year.

The budget outlay for 2011-12 is expected to be a little over Rs 3,226 crore.

GHMC authorities plan to put up the draft proposals before the Standing Committee.

Compared to 2010-11 budget, there is an increase in outlay by over Rs 585 crore for 2011-12.

After incorporating valid suggestions and other proposals by the Standing Committee which will meet on November 15 and 16, it would be placed in the Special Council meeting to be held next month for approval.

After ratification of the budget, the same would be submitted to the state government for approval. The first special meeting of the Standing Committee will be held on November 15.

Initiatives which are likely to receive impetus will be construction of houses for slum-dwellers under the Rajiv Awas Yojana (RAY), development of slums under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). Other works like re-modelling of storm water drains, road widening, sanitation are also to be taken up.

The GHMC is also hoping to tap additional funds from the State Finance Commission, including professional tax of Rs 150 to Rs 180 crore, Rs 50 crore from motor vehicle tax and others. The SFC has recommended 10 percent increase in MV tax realised by the state government, to be given to urban bodies for maintenance of city roads.

`600 CRORE LOAN FOR WORKS: The GHMC is going to obtain a loan of Rs 600 crore through financial institutions for financing developmental works. It has written a letter to the MAUD principal secretary last month to process the proposals.

However, the proposal sent by the GHMC commissioner Sameer Sharma does not have approval of the GHMC council. For seeking such a huge loan, approval of the council is a must.

Last Updated on Monday, 15 November 2010 11:38
 

Civic body wrong about Rs 800-cr deficit, says Nilesh Nikam

Tuesday, 09 November 2010 10:46 administrator
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Indian Express    09.11.2010

Civic body wrong about Rs 800-cr deficit, says Nilesh Nikam

Express News Service Tags : Pune Municipal Corporation, PMC, Jawaharlal Nehru National Urban Renewal Mission Posted: Tue Nov 09 2010, 06:19 hrs

 A week after the Pune Municipal Corporation (PMC) claimed it was facing a deficit of Rs 800 crore in the current fiscal, NCP leader Nilesh Nikam said a wrong projection had been given by the civic administration and there was no reason for such a huge deficit.

He said on Monday the civic body is liable to get Rs 429 crore under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and Rs 300 crore as bank loans, there should be no worry about a deficit budget and there would be no problems in carrying out development works earmarked in the budget.

Last week, PMC additional commissioner Naresh Zurmure had said that against the civic budget of Rs 3,200 crore, going by the earnings so far, revenue was not likely to cross Rs 2,400 crore.

“The civic administration perhaps failed to take into account the JNNURM funding and the loan amount, which adds up to Rs 729 crore. So there is no question of a deficit of Rs 800 crore. The civic administration has projected wrong figures, as it lacks confidence in completing civic works in time,” Nikam said. He added the revenue targets given to the building permission department as well as the octroi department have already been met.

He also said the PMC would be able to complete all capital works. “The NCP will strive to complete the projects this year. Similarly, of the Rs 50 crore target, the fire brigade has been able to collect Rs 41 crore by the end of October,” he said.

After the civic officials projected the deficit, BJP leader Mukta Tilak had said that the ruling partners in the civic body, the NCP and the Congress, had failed to get adequate funds from the state and the centre. “The ruling parties in PMC have put the city in jeopardy. The deficit will have an adverse impact on civic infrastructure like water supply, roads and drainage,” she had said and demanded immediate steps by the civic body to tide over the crisis.

Last Updated on Tuesday, 09 November 2010 10:50
 
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