North Corp to get Rs. 600 crore as lease money | delhi | Hindustan Times
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North Corp to get Rs. 600 crore as lease money

delhi Updated: Aug 27, 2012 23:32 IST
Hamari Jamatia
Hamari Jamatia
Hindustan Times
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The north corporation has decided to pocket the lease amount of Rs. 600 crore to be received from the income tax department to which it has rented out a portion of the Civic Centre.

Earlier, the money was to be divided between all the three municipal corporations.

The corporation took the decision while presenting its revised budget last week.

A portion of the Civic Centre, the headquarters of south and north corporation, has been leased out to the income tax department for Rs. 1,800 crore. While the department had paid Rs. 1,200 crore to the unified MCD, the due Rs. 600 crore has to be paid to the north corporation.

The standing committee passed the resolution citing the provisions of section 203 (3) of the Delhi Municipal Corporation Amendment Act of 2011. "Since the Civic Centre is a property of the North Corporation, all income and liabilities pertaining to it belongs to the civic body. No administrative order or existing rules of the Act superseding or opposing the amendment will be valid," the resolution said.

A senior leader of the north corporation said that the south and east corporations have been claiming their shares of 38 and 24 percent respectively , but only north corporation will be able to lay its claim on the amount.