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KMC – Kolkata Municipal Corporation to sell the bypass assets near the Science City

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Sources revealed at www.propertykhazana.com said, the Kolkata Municipal Corporation is investigating an additional choice to enlarge its capital, sale of KMC assets along with EM Bypass. The Mayor Sovan Chatterjee has dropped back on the same way which has been taken by the KMC during the Left Front Municipal Board that wiped up as Rs. 600 Crores out of the land sale. KMC’s inspection section officials said that, “KMC is putting its appreciated property which is next to Science City on sale, 2 acres of land is probably to carry at least Rs. 60 Crores.” The mayor said that the territory which was given to the State Government Organization is being taken back by the municipal body; this property was leased to Webel by the Left Front Municipal Board for the Rs. 5 Crores and we are going to give back Rs. 5 Crores and take back the property prior to the sale.
Further more the source adds at www.propertykhazana.com saying as element of income growth, KMC plans to charge best from the realty major for amended use of the sold property on the EM Bypass. 5.5 acres of property was sold to DLF for building a hotel in 2006, so in replace the KMC received Rs. 155 Crores, but there was a rider to the auction. The municipal body sold it on the condition that land should be used for building a hotel, though the realty firm demanded to the Left Front Board in May 2010 seeking for the consent for carrying in compensation to the original plan and as well as a residential apartment venture other than the hotel. And the Left Front Board has given the green signal to the civic body for constructing.
Source: NIMMA BENGALURU

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