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MCD signs deed for leasing Civic Centre space to I-T Dept

The Municipal Corporation of Delhi today signed a lease deed of Rs 1800 crore with the Income Tax Department for providing office space in its newly-built Civic Centre building here.



New Delhi: The Municipal Corporation of Delhi
today signed a lease deed of Rs 1800 crore with the Income Tax
Department for providing office space in its newly-built Civic
Centre building here.

The civic body has leased out to the I-T Department
approximately 5,57,024 sq ft built-up floor area in blocks B,
D and E-2, approximately 29,590 sq ft in service block and
parking area for 1,110 cars in the city`s tallest building,
which will also house the MCD`s new headquarters.

The Rs 600 crore received today by MCD as the first
instalment of lease premium will give it "comfort level from
the financial angle," Chairman of MCD Standing Committee
Yogender Chandolia said. The second and third instalments will
be paid on possession date and upon issue of completion-cum-
occupancy certificate of the Civic Centre, respectively.

The cash-strapped civic agency is struggling to make
payment to employees and project contractors and had been
demanding over Rs 4500 crore as aid and loan from Delhi
government, which has recently granted it Rs 1500 crore.

"MCD is to receive Rs 1800 crore in all from the Income
Tax Department," Chandolia said adding that the corporation
will consider depositing part of the lease money in a fixed
deposit to receive regular income on investment.

Municipal Commissioner K S Mehra and Meenakshi Singh,
Chief Commissioner, Income Tax, Delhi Region signed the lease
deed.

Singh said moving to Civic Centre will help overcome the
shortage of office space and provide amenities to taxpayers.

The 28-storeyed MCD Civic Centre comprises five multi-
storeyed blocks, with a total built-up floor area of
approximately 1,16,000 sq metres excluding a three-level
basement parking facility for about 2,500 equivalent car unit,
seven entry and exit gates, eight escalators, 43 passenger and
service elevators and 100 per cent power back-up.

The building, constructed at a cost of Rs 650 crore, was
inaugurated on April 22 by Home Minister P Chidamabaram but
the MCD is yet to shift its offices there. Some works are
still going on in the building and the MCD recently ordered a
probe after rains led to waterlogging at its basement.

The lease term of the I-T Department shall commence from
the possession date and expire on December 21, 2100.

The Income Tax Department would do some finishing work
including flooring, false ceiling and wall finishes to suit
their requirements in the office area leased out, MCD said.
All utilities like lifts, fire fighting system, power supply
system with back up, water supply and sanitation system
required for leased-out area has been provided by MCD.

Complete maintenance of Civic Centre will be carried out
by facility management services entity. The cost of this will
be shared and paid by the parties in proportion to their
respective built-up area space, the MCD said.

PTI

From Zee News

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