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Ahmedabad Municipal Corporation to lease 4,835 commercial properties

Friday, 16 Oct 2020
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The Ahmedabad Municipal Corporation (AMC) has decided to lease 4,835 commercial properties to the existing tenants at jantri rates. 
 
The standing committee has decided to give the properties on 99 year lease to the existing users who have been paying the rent to AMC. 
 
The Gujarat government has formed a policy and based on its directive, AMC has decided to let out these properties on lease.
 
These are old buildings that have been given on rent for periods ranging from 10 years to 30 years. 
 
The decision to give these properties on lease was taken at the AMC general board meeting in 2010-11 and the standing committee had taken a final decision on 5 July 2012. This was given final approval on 27 July 2012, and was sent to the government for final approval. On 5 September 2020, the state government granted its approval. 
 
The government has stated that the property can be given on lease for 99 years at 20 percent to 30 percent of the existing jantri rate and if the present tenant was a sub-tenant he or she will have to pay 30 percent of the jantri rate. 
 
Of the 4,835 commercial properties, the maximum majority of 2,909 are in the Central Zone; 511 are in the South Zone; 303 in the West Zone; 194 in the East Zone and one in the North Zone.

 

 
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