Huge reserved price acting as hurdle, authorities mum
Over 100 shops remain un-allotted despite repeated auctions
Mohinder Verma
JAMMU, June 24: A multi-level car parking-cum-commercial complex, which is in the final stages of completion at General Bus Stand along the BC Road by spending crores of rupees, will turn out to be a white elephant for the Jammu Development Authority (JDA) as there is no taker of two floors earmarked for the multi-brand stores, restaurants etc because of the colossal minimum reserved price.
However, this important aspect has failed to receive due attention of the authorities of the Jammu Development Authority as well as those senior bureaucrats who are reviewing the progress of this mega project after regular intervals as if utilization of tax payers’ money carries no importance for them.
The project titled—Modernization of General Bus Stand and Development of Multi-Level Car Parking-cum-Commercial Complex was started by the Jammu Development Authority some years back in order to arrest further congestion in the area.
The ground floor of the complex has been earmarked for double height bus terminal with 80 bus bays along with ticketing counters, reception and passenger waiting room etc while as first, second and third floors have been raised for conventional ramp based car parking. The fourth and fifth floors have commercial spaces for multi-brand stores, restaurants, food courts etc with provision for premium car parking.
For the construction of this much-hyped project, the internal resources of the Jammu Development Authority as well as State Share are being utilized. However, there is no taker of the floors earmarked for commercial activities till date mainly because of huge minimum reserved price fixed by the Jammu Development Authority, official sources told EXCELSIOR.
They disclosed that 108 shops of different dimensions on two floors of the complex were put to auction for the first time on August 9, 2018 and thereafter this exercise was conducted two more times but till date only 6 shops have been allotted to the bidders. “This is mainly because of huge minimum reserved price fixed for the shops by the Jammu Development Authority”, they added.
For a shop of 100 square feet the JDA has fixed minimum reserved price of Rs 52.50 lakh with the condition that premium ground rent will be charged at the rate of Rs 12.50 per square feet per month with an upward revision of 20% after every three years.
“People don’t consider investing such a huge amount for small shops as a profitable venture as such they chose not to participate in the auctions conducted by the JDA till date”, sources further said, adding “since these two floors are considered as major source of return of investment made in the project, the complex will turn out to be white elephant for the JDA if such a large number of shops remain un-allotted”.
They further said, “the most shocking aspect is that this facet has not been seriously debated either in the JDA or at the highest level in the Union Territory administration till date although progress on the project is being reviewed after regular intervals at various levels”.
Though several telephonic calls were made to the Vice-Chairman of the Jammu Development Authority to ascertain the steps being initiated to ensure that commercial space of the complex is sold out well before its formal opening yet there was no response.
When contacted, Secretary of the Jammu Development Authority Reetika Arora said, “we have allotted six shops till date as such questions cannot be raised on the commercial viability of the project. It is the domain of the Board of the Directors to take decision on revision of the minimum reserved price that too if need arises”.
She expressed inability to specify the time-frame for the completion of the project and said, “engineering wing will be able to give information on this aspect”.
However, Executive Engineer concerned Anil Pandohi said, “I have recently joined this post as such is not in a position to convey the time-frame fixed for the completion of the project”.
Superintending Engineer of JDA Dharam Paul, when contacted, said, “we have been explicitly told not to talk to media-persons about any project of the JDA as only Vice-Chairman is authorized to speak”.
All this indicates that latest deadline fixed for the project being constructed by using tax payers’ money has been kept as a guarded secret without any plausible reason.
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