NDMC auctions 40 shops

The New Delhi Municipal Council (NDMC) today auctioned 40 shops in its area on license fee- basis and one of the them fetched the civic body Rs 7 lakh.

The municipal body said that through these shops it will be able to earn a revenue of Rs 3 crore annually, an official said.

"NDMC has been able to fetch a whopping amount of Rs 7 lakh from one of the shops as license fees against the reserve bid amount of Rs 1 lakh, " NDMC spokesperson Jagjivan Bakshi said in a statement.

"The shop situated near All India Institute of Medical Science (AIIMS) got an offer of Rs 5,260 per square feet which is supposed to be highest rent for a commercial space in entire Delhi," he added.
 

NDMC was trying to auctions these shops for the last four years but unable to get desired license fees, he said.