Pune: Amenity Space Can Be Given On 90 Years Lease?

Pune, 24 August 2021: The final decision of Pune Municipal Corporation’s proposal to lease out 269 amenity spaces in the city is expected to be taken on Thursday during the assembly meeting. If all goes well, then the tenants can use the space for the next 90 years, even if the lease is of 30 years.

If all these places are given on the lease for 90 years, PMC will get Rs 5,288 crores”, said the officials. The Standing committee had decided to lease out the amenity spaces in the city to append the dwindling funds. The final decision will be taken in the assembly meeting to be held on Thursday.

While taking the amenity space, the tenant will have to pay the rent of the space for the next 30 years. According to the officials this, PMC can collect Rs1753 crore. The amenity spaces which are under PMC could not be developed owing to lack of funds.

After leasing out the space for 30 years, the tenant can expand the lease up to 90 years. However, s/he must take due permission about it from the State government”, mentioned the proposal.

According to the experts, such type of proposal will help the hospitals, schools, and grounds the most”.