New Delhi, Jan 6 – The Municipal Cooperation of Delhi (MCD) Wednesday said it expects to raise nearly Rs.2,000 crore by selling some of the commercial sites under its slum department.

‘There are 11 commercial sites which we are hoping to auction. By selling them we expect to raise an amount of around Rs.2,000 crore,’ Leader of MCD house Subhash Arya told IANS.

‘We would entrust their auction to DDA (Delhi Development Authority) which would carry out the procedure to ensure optimum income. The revenue generated out of auction would be deposited in a fixed deposit in a nationalised bank and we would utilise only the interest part of it for development works in the slums,’ he added.

Related posts:

1. Delhi School to Raise Funds to Help Street, Slum Kids
2. Orchid Chemicals to Pay Off Debt By Selling Business
3. Indian Oil to Raise $500 Mn for Capital Expenditure
4. Mangalore Refinery to Raise Rs.4,000 Crore for Expansion
5. Rehabilitate Slum Dwellers, Rules Court