In a key decision aimed at ensuring better maintenance of infrastructure developed under the Smart City Mission, the Belagavi Abhivruddi Society has resolved to lease out the multi-purpose commercial complex at the Kalamandir premises (Tilakwadi) for 11 years. The decision was taken at a meeting chaired by Deputy Commissioner Mohammad Roshan, who also serves as the President of the Belagavi Abhivruddi Society.
The tender process to select a suitable tenant will soon be initiated, with clear terms and conditions laid down during the meeting. Discussions focused on finalising the tendering method, expected annual revenue, and whether to lease out the entire building or individual shops.
It was ultimately decided that the entire complex would be leased to a single entity.
As per the financial model decided, 50% of the revenue generated from leasing the complex will be allocated to the Belagavi Abhivruddi Society to manage and sustain Smart City projects in the future. In comparison, the remaining 50% will be allocated to the Municipal Corporation.
The commercial complex, constructed under the Smart City initiative, had faced delays due to legal hurdles after construction began in 2020. It was finally inaugurated by Chief Minister Siddaramaiah two months ago. Since then, discussions have been ongoing regarding its usage and management.
It must be leased out shop wise basis only and entire property must belongs to City Corporation and it must be name as Rani Chennamma Trade Centre