GUNTUR: The Guntur Municipal Corporation (GMC) has scripted history with the record-breaking auction of shops at Kolli Sharada Market, boosting its monthly rental income nearly sevenfold-from Rs 6.80 lakh earlier to Rs 49.90 lakh now. This translates into an annual revenue jump from just Rs 81.58 lakh to a whopping Rs 8 crore.
The fiercely contested auction, held between August 18 and 20, saw shop rents climb to unprecedented levels, with the highest bid of Rs 5.50 lakh per month secured for Shop No. 67 (a canteen). Out of 88 shops in the wholesale vegetable market, 81 were put up for auction and leased out successfully. Officials noted that transparent procedures prevented syndicates and ensured fair competition, maximizing revenue for civic development.
“This is a landmark in GMC’s history. The revenue generated will be a game-changer for Guntur’s urban development,” Mayor Kovelamudi Ravindra said, adding that the surge in income would significantly strengthen municipal finances. Commissioner Puli Srinivasulu also stressed that the additional resources would be reinvested in essential services such as water supply, sanitation, and roads.
As an extension to this, the GMC Standing Committee met on Thursday under Mayor Ravindra and approved the allotment of the 81 shops to successful bidders. The committee also cleared lease renewals for municipal shopping complexes where existing agreements had expired, ensuring compliance with regulations.
In the same meeting, nearly 60 civic proposals worth Rs 19 crore were approved, including repairs to drinking water reservoirs and the Thakkellapadu Head Water Works-both crucial to ensuring uninterrupted supply to large parts of the city. Representatives of various divisions and department heads participated in detailed discussions before giving their nod.
The twin developments-a record revenue surge from the auction and the clearance of key infrastructure works-underline GMC’s focus on boosting its financial base while upgrading civic services.
Officials believe the combination of transparent governance and reinvestment in public amenities will set a strong precedent for other municipalities in the State.