Corporation Fixes Rent For Commercial Complex, Real Estate News, ET RealEstate

August 27, 2023

TRICHY: Trichy corporation has fixed rent for three floors at the commercial complex in Thillai Nagar, which has been vacant for more than a year now. The move is aimed at improving the non-tax revenue of the civic body.

The in Thillai Nagar 7th Cross is being utilised by the regional passport office since April 2022 and a new sub-registrar office for a month now.

However, as space on the ground, first and third floors had been lying vacant, corporation has fixed 56 as rent per square feet. While the sub-registrar office has occupied four shops on the ground floor, the passport office is using the entire second floor and a part of the third floor.

Officials said that the ground floor has space for 1,766sqft and the first floor has 2,168sqft of vacant space. The ground and first floors altogether have 19 shops. The third floor has five shops.

Deposits have been fixed between 1 to 3 lakh based on the floor area, which varies between 85sqft to 577sqft. Officials said that the shops will be given for monthly rent through public auction.

The entire complex commissioned in 2021 was estimated to generate 15 lakh as monthly revenue for the local body.

  • Published On Jul 28, 2023 at 02:00 PM IST

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