Annual rent from 17 shops quadruples

THANJAVUR

The annual rent realisation by the Thanjavur Corporation from 17 shops in the New Bus Stand premises has quadrupled in the auction held here on Wednesday.

According to official sources, the civic body called for bids from interested persons to take 82 shops on rent out of 122 on the New Bus Stand premises since there were interim injunctions against the auctioning of the remaining 40 shops.

A total of 33 persons took part in the auction wherein the process relating to 17 shops (9 in ‘B’ block, 3 in ‘D’ block, 4 shops located on the outside and one inside) was completed and the successful bidders remitted the required deposits.

While the highest bid scaled up to ₹ 96000 from the previous highest rent of ₹ 25185 collected by the civic body from a shop, ₹ 11000 was recorded as the lowest rent bid compared to ₹ 2431 received in the past.

The competitive bidding reflected a fourfold increase (from ₹ 13 lakh to ₹ 59.50 lakh) in the annual rent realisation from these 17 shops on the New Bus Stand premises, sources said.

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