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Civic Centre to be leased out

NEW DELHI: The Municipal Corporation of Delhi has “in principle” decided to lease out commercial office space to the Income Tax Department in the upcoming Civic Centre building.

MCD Standing Committee Chairman Vijender Gupta said on Wednesday: “The Central Board of Direct Taxes has given a green signal to the Income Tax Department for acquiring space in the Civic Centre.”

The civic body has estimated the cost of a 99-year lease as Rs.2,400 crore though Mr. Gupta clarified that the final figure would depend on the agreement after negotiations.

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