The Economic Times 06.01.2010
MCD to raise Rs.2,000 cr selling slum properties
NEW DELHI: The Municipal Cooperation of Delhi (MCD) on Wednesday said it expects to raise nearly Rs.2,000 crore by selling some of the commercial sites under its slum department.
"There are 11 commercial sites which we are hoping to auction. By selling them we expect to raise an amount of around Rs.2,000 crore," Leader of MCD house Subhash Arya told.
"We would entrust their auction to DDA (Delhi Development Authority) which would carry out the procedure to ensure optimum income. The revenue generated out of auction would be deposited in a fixed deposit in a nationalised bank and we would utilise only the interest part of it for development works in the slums," he added.
"There are 11 commercial sites which we are hoping to auction. By selling them we expect to raise an amount of around Rs.2,000 crore," Leader of MCD house Subhash Arya told.
"We would entrust their auction to DDA (Delhi Development Authority) which would carry out the procedure to ensure optimum income. The revenue generated out of auction would be deposited in a fixed deposit in a nationalised bank and we would utilise only the interest part of it for development works in the slums," he added.
