Ponda Civic Body to Lease Market Complex Following Unsuccessful Auctions

06 Nov 2024 CW Team

The Ponda Municipal Council (PMC) has made the decision to lease its entire new market complex located at Budhwar Peth (Upper Bazar) to a single entity. This decision follows the inability to attract bidders in six separate auctions for individual shops within the complex, as stated by PMC chairperson Anand Naik.

The market complex, which was inaugurated in December 2011, has been underutilized, with only 29 out of 154 shops currently occupied. Despite multiple auction attempts, PMC has struggled to find tenants for the remaining shops for over a decade.

PMC officials expressed that leasing the entire complex would generate revenue and help cover operational expenses. Naik noted that the most recent auction held last month also failed to attract any bidders. He mentioned that the council believes renting out the shops individually is not feasible, making it preferable to lease the entire complex to a single party.

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