AAP protests NDMC’s decision to sell Novelty cinema for `34cr

Aam Aadmi Party (AAP) leaders on Wednesday staged a protest at BJP headquarters in DDU marg against North Delhi Municipal Corporation’s decision to “sell” the Novelty Cinema land at a “throwaway” price of just 34 crore. Meanwhile city BJP denied these allegations and termed it baseless.

“AAP gheraod the BJP headquarters to protest against the decision on Wednesday,” said party leader Durgesh Pathak.

Reacting to the decision, AAP leaders said this is yet another example of MCDs not being able to manage their resources and therefore resorting to “selling” prime properties at throwaway prices.

Pathak said, B’JP-ruled MCD sold this massive, high-profile 1,100 sqm plot in this commercial area for just Rs 34 crore, while its market value should have been more than `150 crore.”

Delhi BJP spokesperson Praveen Shankar Kapoor said that lease sale of Novelty Cinema plot has been done by North DMC by open transparent tender. Going by commercial circle rate value the plot is worth `19.50 crores while the plot has been lease

sold at almost double the circle rate at `35 crores.

Mr kapoor added, that if AAP Government feels that plot is being sold at below market value then it should come forward and help cash starved North DMC by buying the plot at their own claimed market value of over Rs. 100 crores.

The standing committee

of North MCD has given final approval to the proposal to lease out 1,157square metre land for 99 years at Rs 34.75 crore to a private player.

The building of the cinema hall, located in the Walled City area, was demolished just before the first Covid-19 induced lockdown was clamped in the country.