BMTC relaxes norms to rent out TTMC space

Senior BMTC officials from its commercial arm told Deccan Herald: “With almost one lakh square feet of commercial space there for the taking at the Kengeri, Yeshwantpur and Whitefield TTMCs, we have decided to relax the norms.”

Earlier, the corporation had a clause that made it mandatory for those interested in renting its space to bid for the entire complex, like in the case of Big Bazaar in Shantinagar. But under the new provisions, they will be allowed to bid for separate floors at pro-rata prices.

Also, a clause that made it mandatory for those interested in renting the BMTC space to have an experience of managing commercial operations for three years has been relaxed. They are now expected to have an experience of one year.

Besides the aforementioned TTMCs, the corporation also has unsold commercial space in Bannerghatta. “We decided that there needs to be some relaxation in the norms to attract more tenants,” sources said.

 

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