According to the latest reports, the Brihanmumbai Municipal Corporation (BMC) is looking to permit private agencies to put their advertisements on municipal properties located centrally, hoping to attain a yearly revenue of nearly INR 200 crore.
Taking into account the requirement of funds for its many development projects, the civic body, based on narratives is seeking new sources of revenue, claimed officials from the BMC. Presently, compensation for octroi, property tax and development plan chargers are the civic body's prominent sources of income.
Based on accounts, an official elaborated on how there are many open plots and properties owned by the civic authority situated in several busy areas. The official is reported to have remarked that they can permit private agencies to put their advertisements in order to earn revenue which will assist the civic body financially. This is taking into account the many significant projects that are being planned.
It has been mentioned in narratives that the said initiative can operate in areas like Byculla, Dadar, Kalanagar in Bandra. Apart from this, the BMC is also believed to have many properties as well as open spaces throughout the island city from Colaba to Dahisar to Mulund.
Officials were quoted by reports elucidating on how the civic body will soon be appointing a consultant to undertake a comprehensive study on properties that have the potential to host the said idea.
Also Read: BMC Looks To Appoint Urban Design Consultants To Make Streets Pedestrian-Friendly
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