Considering it is a govt event, MIDC says the MMRDA ground, used for public purposes, should be rent-free
The Maharashtra Industrial Development Corporation (MIDC), organiser of a three-day summit of global investors at Bandra Kurla Complex (BKC), wants the venue rent to be waived off. The MIDC has written to the Mumbai Metropolitan Region Development Authority (MMRDA) that owns the land in BKC to waive off the rent for the duration of the event, confirmed MMRDA officials.
The summit, Magnetic Maharashtra, is scheduled between February 18 and 20 for which the venue is MMRDA grounds wherein MIDC will be using around 90,000 square meters.
A MMRDA official, said, "We have received in written from MIDC to waive off the rent for the venue at MMRDA grounds in BKC. We will put up the matter with the state government which is the final authority that will decide on whether a waiver will be given or not. For now, we will be giving them possession of the venue as set up preparations for the investors summit will start in advance."
The MMRDA official added, "Chief Minister Devendra Fadnavis who is chairman of MMRDA will decide on the matter during the authority meeting in March 2018."
Despite repeated attempts, MIDC CEO, Sanjay Sethi was unavailable for comment.
According to MMRDA officials, it charges around Rs 2 per square meters for events being organised by government bodies on the day of the event and Rs 1 per square meter for preparations before the event and dismantling after the event.
MMRDA officials, however, opine that the rent waiver will most probably be granted by Fadnavis considering it has been done before as well. Earlier in 2016, rent for using the grounds was waived for 'Make In India' and for a music concert after which opposition parties protested for waiving off the rent citing losses to state exchequer MMRDA and a petition was also filed in Bombay high court.
INVESTOR SUMMIT
- The global investors summit is being conducted to attract more investors from key sectors like defence, aerospace, Infrastructure and textile industry.
- It is expected to be inaugurated by Prime Minister Narendra Modi along with Chief Minister Devendra Fadnavis.
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