Municipal Corporation to loose rights
Hyderabad, April 26, 2006The Municipal Corporations will soon lose their ownership rights on municipal markets across the State as the Government has decided to handover them to builders for development.
The GO MS.No.160 dated April 6, 2006 envisages construction of multi storied market complexes replacing the old and dilapidated municipal markets in the State. There are nearly 100 such markets under the control of 14 Municipal Corporations in the State out of which 24 are under the control of Municipal Corporation of Hyderabad. The contracts for constructing markets would be awarded by way of tenders. As per the GO, the builders have to invest the total cost of the new market complexes and in return, they would get ownership rights of shops or built up area in the market, which they can either sell or lease it out.
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