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Karimnagar: The Karimnagar Municipal Corporation has conducted an open auction for commercial properties belonging to the civic body, including shops at the Dr BR Ambedkar Sports Complex and the IDSMT New Shopping Complex .
Officials conducted the auction on Tuesday, September 1, with successful bidders securing multiple commercial spaces under monthly rental agreements.
At the Dr BR Ambedkar Sports Complex , a total of 19 shops on the ground floor , along with the banquet hall on the first floor and dark suite rooms on the second floor , were offered as a single building complex.
Ravula Ramesh emerged as the successful bidder for the entire complex. Under the agreement, he will pay Rs 99,400 per month to the Karimnagar Municipal Corporation.
The auction provides the civic body with a regular monthly revenue stream from its commercial properties.
Another major property auction involved the IDSMT New Shopping Complex .
The complex includes 25 shops and the ground-floor parking area . The entire building complex was secured by Jangili Satish Kumar through the auction.
As per the agreement, the successful bidder will pay Rs 6.10 lakh per month to the Karimnagar Municipal Corporation.
The auction of the municipal properties is expected to help the civic body generate additional recurring revenue while putting its commercial spaces to productive use.
The latest auction covers several municipal commercial properties in Karimnagar , including shops, a banquet hall, suite rooms and parking facilities. The monthly lease amounts agreed upon by the successful bidders will provide a steady source of income for the municipal corporation.
| Property | Successful Bidder | Monthly Payment |
|---|---|---|
| 19 shops, banquet hall and dark suite rooms at Dr BR Ambedkar Sports Complex | Ravula Ramesh | Rs 99,400 |
| 25 shops and ground-floor parking at IDSMT New Shopping Complex | Jangili Satish Kumar | Rs 6.10 lakh |
The auction is significant for Karimnagar commercial property as municipal-owned shops and facilities have been brought under lease through an open bidding process.
