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APSRTC plans to lease out lands to tide over losses
The APSRTC is planning to tide over its financial crisis by extending the land lease period to private parties from 33 years to 49 years. As part of this strategy, RTC proposes to float a civil construction corporation to develop the RTC premises as commercial complexes to net more revenue.
Vijayawada: The APSRTC is planning to tide over its financial crisis by extending the land lease period to private parties from 33 years to 49 years. As part of this strategy, RTC proposes to float a civil construction corporation to develop the RTC premises as commercial complexes to net more revenue.
Strongly opposing this move, CPM state secretary P Madhu alleged that the RTC has been trying to hand over the prime land to benefit private parties. He said by this move RTC would suffer a loss of Rs 26.4 cr with the unilateral decision of the RTC authorities. He demanded the RTC authorities to cancel the lease tenders.
But APSRTC Managing Director N Sambasiva Rao dismissed the fears that leasing out land for 49 years to the private persons would end up lease-holders owning up the land in the long run. Speaking to The Hans India, Sambasiva Rao said the non-transport revenues of the APSRTC was just around 5 percent.
Taking this position into consideration, it was decided in 2005 to monitise about 300 acres of land belonging to RTC to get revenues. However, in the last 10 years only 17 projects have come up under the build operate and transfer (BOT) for which the RTC had been proposed to monetize its lands for revenue generation. For example, in Tenali in Guntur district, the public transport has 3 acres of vacant land for the last 20 years.
“It was such properties that the RTC wanted to put to use,” Sambasiva Rao said. In a similar case, the Gujarat State Road Transport Corporation (GSTC) had monetised its unutilised land by giving lease for 99 years.
But, when it comes to APSRTC, we have proposed only for 49 years, which could be extended for another 25 years. However, at the same time, there is a specific clause under the BOT that the ownership of the property rests with the RTC.
