The Times of India 23.05.2017
Corp increases rent for Saidapet market, vendors irked
TNN | May 23, 2017, 09.33 AM ISTEarlier in 2015, a Rs 9 crore-project was announced to transform the market, which is one of the oldest in the city, into a modern 2 storey structure inspired, by urban markets of Singapore. But the project was stalled as it is facing resistance from vendors who are worried about their relocation during the construction. Severe financial crunch in corporation also is a reason for the project not taking off.
It was with the aim to increase overall revenue that officials recalibrated the rate from Rs 6 per sqft to the market value of Rs 40 per sqft. "If they had built the new structure and increased the rent, it would have been fair. But we are facing the same old problems in the market," said T Bhaskar, secretary of the market's association. "We want them to reduce the rent." Among the 300-odd vendors in the market, more than 50 are permanent.
However, revenue officials and local officers say they had a meeting with the vendors earlier in January and finalised the rates with their approval. "We researched the surrounding market rates, had a discussion with vendors and even reduced the rates on their request," said a senior corporation official. "We are only following rules that these rates have to be revised every 9 years." Officials also added that rental rates of all shopping complexes owned by corporation will be increased soon.
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The Chennaits -- flat owners atleast are the lucky ones. Chennai City Corporation have not increased house tax for past 20 years ... as i remember... For the samr squre feet flat the house tax is a... Read MoreGopalarathnam Krishna Prasad