SDA’s Sangarmal Shopping Complex Running Into Losses

31Shares

Srinagar: No business and establishment at Sangarmal shopping complex in Srinagar has a lease agreement—contrary to it the space holders owe a whopping amount of more than Rs 15 crores to the Government on the account of total outstanding premium and interest against them.

According to the official documents, a premium of a total amount of Rs eleven crores and forty-five lakhs (Rs 11,45,99,542) were generated by the government on the account of goodwill (Nazrana), rent, license fees received from Sangarmal Complex from the date of its inauguration till 31 Dec 2018.

Similarly, an amount of Rs 37,88,970 was also generated from the rent charges till 31-12-2018.

In May-2019, the Public Information Officer (PIO) of Srinagar Development Authority (SDA) in a reply to the queries of the RTI applicant regarding the details of individuals, business, and establishments with whom the lease agreement was executed and registered so far, the PIO has stated “None”.

However, the officials of SDA said that since 2019, a few persons have paid all the premium and pending rent of their establishments.

“Some 2-3 persons paid the full premium amount and are now legally lease holders of the space,” the official said.

“However most of the space holders of the complex are yet to pay full premium amount,” he said.

SDA officials also said that the lease agreement for the shop in the Sangarmal complex remains valid for twenty years.

According to the RTI reply, the statement showing the list of defaulters with total outstanding Premium interest as on 31-05-2018 was Rs 15.49 crores (Rs 154,979,987.

Apart from the outstanding premium, space holders even owe Lakh’s of Rupees on the account of the monthly rent to their spaces and shops.

The PIO has stated that in the complex, 23 business houses and establishments are the major defaulters in payment of rent and goodwill.

The official documents further state that the space in Sangarmall Complex has been allotted to different 125 individuals and establishments. (KNO)

Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.

ACT NOW
MONTHLYRs 100
YEARLYRs 1000
LIFETIMERs 10000

CLICK FOR DETAILS


KO Web Desk

Leave a Reply

Your email address will not be published.

KO SUPPLEMENTS