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In response to a recent state government notification which revised lease rates for properties owned by civic bodies, the Nashik Municipal Corporation (NMC) is set to adjust rates for its leased properties designated for commercial and social purposes. The government's directive has resulted in a significant reduction in lease rates, dropping from 8% of the Ready Reckoner Rate (RRR) to 0.5% for properties allocated to social outfits and from 8% to 0.7% for commercial properties. The new rates will become applicable upon the conclusion of the existing lease agreements. A committee chaired by the civic chief is tasked with determining the revised rates for the properties.
The NMC currently manages 1,900 commercial galas/shops and 1,075 other properties designated for social causes and allocated to social outfits and NGOs. The previous lease rate, set at 2.5% of the Ready Reckoner Rate, was altered in 2020 when the state government mandated all civic bodies to adopt a lease rate of 8% of the RR. The NMC complied with the government order in 2020. Responding to calls from social outfits for reduced rates, Nashik Central MLA Devyani Pharande presented a calling attention motion in the state assembly session in July of this year.
In response to the motion, State Industry Minister Uday Samant assured that lease rates for properties owned by municipal corporations and other civic bodies across the state would be promptly addressed. In line with this commitment, the state government recently issued a notification effecting a significant reduction in lease rates for civic body properties designated for both commercial use and social causes, bringing them down to 0.7% and 0.5%, respectively.
The formation of a committee to oversee the implementation of these revised rates, headed by the civic chief, reflects a structured and organized approach to the adjustment process.
This move signifies a positive response to the demands and concerns raised by social outfits and NGOs, aligning with the state government's commitment to ensuring fair and reasonable lease rates for civic body properties. As the NMC works towards implementing these revised rates after the conclusion of current lease agreements, the decision is expected to have a positive impact on lessees, particularly social outfits and commercial establishments, fostering a more favourable environment for civic property leasing in Nashik.
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