Shillong, July 6: The Meghalaya government will issue a fresh tender next week for the Polo Municipal Complex after three previous attempts failed to attract bidders, Deputy Chief Minister in charge of Urban Affairs Sniawbhalang Dhar said on Monday.
The commercial complex, inaugurated by Union Finance Minister Nirmala Sitharaman in July last year, has remained non-operational for over a year due to the lack of response from prospective lessees.
Speaking to reporters, Dhar said the government believes the earlier lease rates were too high and has decided to revise them downward to attract investors and make the facility functional as soon as possible. “We are yet to finalize because we have floated the tender three times, and no one responded. So it seems the rate is very high,” he said.
Dhar said he held a review meeting with officials last Friday, during which it was decided to invite a fresh Expression of Interest (EOI) with revised lease rates. “Maybe we will go again for a fresh EOI, but we will reduce the rate a little bit. We want that building to be operational immediately,” he said.
The Deputy Chief Minister said the government plans to provide leasing opportunities to both large businesses and smaller entrepreneurs to ensure maximum occupancy of the complex. “We will give space, maybe for those who want to lease it wholly or partly. We will give a chance to small people, and the rate will also be low,” Dhar said.
He expressed hope that the revised terms would generate greater interest, adding that the new tender is expected to be floated next week.
On the redevelopment of Khyndailad, Dhar said the project is nearing completion and that an Expression of Interest for leasing commercial spaces will be invited once the work is finished. “The project is almost completed. As soon as the project is completed, we will go for EOI,” he said.
Dhar also said the leasing policy for the Khyndailad redevelopment project would give preference to local entrepreneurs by offering them lower lease rates than larger corporate entities. “We will put a low rate for local people and higher rates for corporations. We will think of local people,” he added.
