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Huge demand for NTR Complex new floors
The Vijayawada Municipal Corporation (VMC) will get good returns for its investment of Rs 10 crore for the construction of two floors at NTR Complex. Many traders and IT companies are ready to pay crores of rupees to get the space on lease at NTR Complex, which is located in the heart of the city. NTR Shopping Complex is one of the biggest complexes owned by the civic body.
Vijayawada: The Vijayawada Municipal Corporation (VMC) will get good returns for its investment of Rs 10 crore for the construction of two floors at NTR Complex. Many traders and IT companies are ready to pay crores of rupees to get the space on lease at NTR Complex, which is located in the heart of the city. NTR Shopping Complex is one of the biggest complexes owned by the civic body.
The corporation had spent Rs 10 crore for the construction of more than 200 shops on the existing 20-year-old building. There is a huge demand for the shops in the complex due to its prime location. The complex is ideal destination for purchase of mobiles, electrical and electronic goods particularly, lights, torchlights, electrical wires, cables, batteries, mosquito bats and many other goods.
Now, some IT companies are trying to take space for setting up of IT units. Mayor Koneru Sridhar said the corporation is consulting IT Minister Nara Lokesh on leasing of two newly constructed floors for setting up of IT companies. If IT firms take the floors on lease, the corporation would get crores of rupees in the form of rents.
On the other hand, many traders had been lobbying to get shops and ready to pay rent in advance. If the two floors leased to IT companies, IT professional gets job opportunities in the heart of the city. The corporation has not taken a decision on leasing the two floors to IT companies, the Mayor said.
He said a decision would be taken after consulting IT Minister Nara Lokesh. He, however, refused to name the IT companies, which are consulting the corporation.
