Chennai Corporation to lease bus shelters and utility poles for advertisements

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Chennai, June 29 (IANS): The Greater Chennai Corporation (GCC) is to lease bus shelters, utility poles for advertisements in a bid to increase the company’s revenue.

The company has partnered with the World Bank for this GCC revenue enhancement project and the bank will provide an amount of Rs 22 crore for project preparation and consultancy fees, a GCC official told AFP. IANS.

A private consultant is already employed by the company to provide insight into methods to shore up its revenue, he said. The consultant in his report delivered to the corporation on Tuesday suggested renting 1,000 bus shelters, 8,000 electric poles to the corporation for advertising.

He also suggested improving public parking facilities as a major source of revenue generation for the company. The company will also provide licenses to erect advertising pillars.

The GCC will also bring professionals like doctors and chartered accountants who practice their private practice under the tax net. Other independent professionals such as architects and engineers will also be included in the proposal.

The company official also said that GIS mapping will be done on the company’s undervalued properties. Currently, the company generates tax revenue of Rs 800 crore per annum and with these new measures, it is expected to increase tax collection by Rs 1000 crore, bringing the total tax collection per annum to Rs 1800 crore.

A company official told IANS that the target was to increase collection by Rs 3,000 crore over a three-year period with a break of Rs 1,000 crore per year.

The World Bank supporting the project and also financing it, the Company will be required to complete in time the suggestions put forward by the consultant. This will speed up project execution.

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