MCD to raise Rs 2,500 cr by selling property

Delhi Mayor Arti Mehra asks the Delhi Govt that the civic body be allowed to dispose-off its strategically located commercial properties to generate revenue for development purpose in slum colonies, reports HT Correspondent.

Delhi Mayor Arti Mehra has charged the Delhi Chief Minister of deliberately starving the Slum and JJ department of the Municipal Corporation of Delhi of development funds. Mehra has asked the Delhi government that the civic body be allowed to dispose-off its strategically located commercial properties in the capital to generate revenue for development purpose in slum colonies.

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“The MCD hopes to generate revenue of about Rs 2,500 crore from sale of selected properties and earn interests thereon to the tune of Rs 250 to Rs 300 crore per year,” Mehra said.

According to the civic body, there is acute shortage of funds due to which the civic body is unable to carry out developmental works in the slum colonies.

Mehra would be meeting Lt Governor Tejinder Khanna to restore power of disposing off MCD's property to the corporation itself. According to the civic body, it would keep the revenue generated out of sale of commercial properties in fixed deposits.

“The MCD will only utilise the interest on the fixed deposits for carrying out developmental work. But the Delhi government has kept away MCD to dispose of its own properties for development works,” Mehra added.

According to the civic body they had received Rs 300 crore by auctioning six plots at Raja Garden out of the 14 plots. Now the MCD is planning to sell the rest of the plots at Raja Garden.