MCD to rent out its office building complex

| | New Delhi
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MCD to rent out its office building complex

Monday, 04 December 2023 | Staff Reporter | New Delhi

In a bid to earn revenue, the Municipal Corporation of Delhi (MCD) will soon be leasing out office space in its newly built office complex in Karkardooma in East Delhi. The State-of-the-art premium office complex, located in the Karkardooma Institutional area, comprises three blocks i.e. A, B, and C, and is constructed over a plot size of 22,918 sq metre.

“All three blocks are ready to be leased out by the Corporation. Among them, Block A has Ground + 5 floors with a carpet area of 17480 sq ft while Block B has Basement + 5 floors with a carpet area of 22391 sq ft.  Block C is a 12-story building having a carpet area of more than 1 lakh sq ft. The carpet area so calculated is exclusive of basements. Block B has one basement while Block C has two basements, having ample parking facility,” MCD said in a statement.

The office complex is equipped with all modern amenities like air-conditioning, power backup, firefighting systems and CCTV surveillance apart from 190 KLD Sewerage Treatment Plant.

The civic body has proposed to lease office spaces to interested Central/State government departments or Public Sector Undertakings (PSUs) for a period of thirty years.  “The Corporation has recently approved the minimum rent of the office complex at Rs. 115 per sq ft with enhancement @ 7% per annum on compounding basis i.e. 21% at the end of every three years,” it said.

Few central government departments have expressed their interest for office space at the complex.

According to officials, the civic body will be writing to other central government Departments/PSUs/State Government regarding availability of office space at Karkardooma Institutional Area. It will sign a lease agreement with the Government Department/Agency/PSUs which offer the best rate over and above the floor rate of Rs. 115/- per sq ft fixed by the Corporation.

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