Chandigarh MC slashes rent of booths in Terraced Garden by half

The MC had earlier offered booths for a minimum reserve rent of ₹10,000 per month, but no takers were found

After repeated failures to attract tenants, the municipal corporation has slashed the monthly rent of the commercial booths in Terraced Garden, Sector 33, by nearly half.

The financially struggling MC has been spending money on the maintenance of these shops without any earnings in return. (HT FILE)

The MC had earlier offered booths for a minimum reserve rent of ₹10,000 per month, but no takers were found. Even after reducing the reserve rent to ₹5,000-₹6,000 per month, it failed to receive any positive response. The MC made another attempt at renting out these shops at a further reduced rent of ₹3,500 per month.

The financially struggling MC has been spending money on the maintenance of these shops without any earnings in return.

The auction will be held on August 3 at the conference room of the MC building in Sector 17. Prospective bidders have been asked to submit an earnest amount of ₹10,500 in the shape of demand draft in favour of MC commissioner before the start of the auction. Unsuccessful bidders will get their money back.