January 17, 2022 1:10:40 pm
The Brihanmumbai Municipal Corporation (BMC) is planning to allow private agencies to put up advertisements on centrally located municipal properties, eyeing annual revenue around Rs 200 crore.
Considering the need for funds for several development projects like the coastal road, Goregaon-Mulund link road, sewage treatment projects, the corporation is looking into new sources of revenues, said BMC officials. Currently, compensation for octroi, property tax and development plan charges are the corporation’s main sources of income.
“There are several open plots and properties owned by the BMC located at several busy areas. We can allow private agencies to put up their advertisements and earn revenue. This can help the BMC financially as several big-ticket projects are being planned,” said an official.
The plan can work in areas like Dadar, Byculla and Kalanagar in Bandra. Also, the BMC has several properties and open spaces across the city (Colaba to Dahisar and Mulund).
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The BMC will soon appoint a consultant to conduct a detailed study on properties that have the potential of advertisements, said officials.
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