The Municipal Corporation of Delhi on Thursday signed a Rs.1,800-crore lease deed with the Income-Tax Department for providing office space at its newly-built Civic Centre near Minto Road.
It also received the first instalment of Rs.600 crore from the department, while the second and third instalments will be paid on possession date and upon issuance of completion-cum-occupancy certificate of the Civic Centre respectively.
The lease deed was signed by Municipal Commissioner K. S. Mehra and Chief Commissioner, Income Tax, Meenakshi Singh. The civic body has leased out to the I-T Department about 5,57,024 sq. ft built-up floor area in blocks B, D and E-2 and about 29,590 sq. ft in service block and parking area for 1,110 cars in the Civic Centre which will also house the MCD's new headquarters. The lease term of the I-T Department will commence from the possession date and expire on December 21, 2100.
MCD Standing Committee chairman Yoginder Chandolia said: “The civic body will consider depositing part of the lease money in a fixed deposit to receive regular income on investment. The I-T Department would do some finishing work including flooring, false ceiling and wall finishes to suit their requirements in the office area leased out.”
According to the I-T Department, moving to the Civic Centre would help overcome the shortage of office space and provide amenities to taxpayers.
The 28-storey Civic Centre comprises five multi-storey blocks with a total built-up floor area of about 1,16,000 sq m excluding a three-level basement parking facility for about 2,500 cars, seven entry and exit gates, eight escalators, 43 passenger and service elevators and 100 per cent power back-up. All utilities such as lifts, fire fighting system, power supply system with back up, water supply and sanitation system required for leased-out area have been provided by the MCD.
The building, constructed at a cost of Rs.650 crore, was inaugurated on April 22 by Home Minister P. Chidamabaram, but the MCD is yet to shift its offices there. Some works are still ongoing in the building and the MCD recently ordered a probe after rains led to water-logging at its basement.
Delhi Mayor Prithvi Raj Sawhney said: “We plan to begin the shifting process by August as by then the remaining works of furniture and fittings installation would have been completed.”
