JOIN USAimed at augmenting revenue, North Delhi Municipal Corporation has decided to lease out some of the landmark buildings for commercial use.
A resolution regarding leasing out the prime properties was passed by the standing committee of the corporation on Thursday.
The civic body plans to lease out landmark buildings like Town Hall — the former headquarters of the unified MCD, old Hindu College building and the closed Novelty cinema building as well as around 12 acres of corporation land in Mukundpur along with plots at the commercial complex in Moti Nagar.
“The fiscal position of the corporation has weakened after its trifurcation. Leasing out all these properties is estimated to bring in a revenue of Rs 3,000 crore,” said Standing Committee Chairman Yogendra Chandolia.
The civic agency has decided to go for an integrated restoration plan for the Victorian-style historical building and the sprawling lawns of Town Hall — which will have sound and light shows on the structure’s history.
Heritage hotel
The Corporation has decided to develop one wing of the building as a museum and the other as a heritage hotel. Chandolia said the corporation commissioner has been asked to form a three-member committee which will monitor the functioning of the officials formulating policy to commercially exploit corporation properties.
“A consultant will soon be appointed to plan the leasing out process. The consultant will be asked to complete the plan at the earliest so that the properties are leased out within the current fiscal,” said Chandolia.