BMC Finds Few Takers for Properties at Bhawani Mall

Published: 11th April 2015 06:00 AM  |   Last Updated: 11th April 2015 10:14 AM   |  A+A-

BHUBANESWAR: Though three years have passed since BMC Bhawani mall was thrown open to public, there are hardly any takers for properties of the complex at Saheed Nagar here.

Bhubaneswar Municipal Corporation (BMC) owns 72,000 sq ft of built up space in the complex spread across four floors apart from a car parking space. However, space of whopping 62,000 sq ft is lying vacant.

Despite BMC advertising for auction of its share several times in the past, no bidder has evinced interest. The Corporation owns 18,000 sq ft area in four floors each while Bhawani, the private partner, owns the ground and first floors of the same block.

The shopping-cum-residential complex was developed by BMC in Saheed Nagar in public-private partnership (PPP) mode.

In December, 2012, BMC had passed a resolution for sale of its space, setting a minimum benchmark of around `5200 per sq ft as estimated by Housing and Urban Development Corporation Ltd (HUDCO), the consultant engaged by the civic body.

Due to cold response from bidders, the civic body dropped its idea of selling and decided to let the space on rent at `38 per sq ft.

BMC has built an office which houses its planning wing and Odisha Development Authority Court on 7000 sq ft space. It has rented an area of 3000 sq ft to Oil and Natural Gas Corporation (ONGC) on the second floor. The planning wing of BMC was inaugurated on Friday.

Mayor Ananta Narayan Jena said, “We have advertised to invite bids for letting the vacant space on rent at the rate of `38 per sq ft.”

Financial losses accrued from the unused property has run into several crores of rupees over the last three years, said sources.

Also Read:

New BMC Office at Unit VIII

New Planning Cell Opened 

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