TSRTC’s property monetisation strategy faces challenges
The Telangana State Road Transport Corporation’s (TSRTC) strategy to boost its revenue through property monetisation seems to have hit a roadblock. This comes as the call for tenders to lease out its land properties has elicited a cold response.
The TSRTC had issued an etender notification for leasing out its land parcels in the Greater Hyderabad Zone. These included properties in Kachiguda, Medchal, Shamirpet, Hakimpet, Chengicherla, and Rasheedguda near Shamshabad. While the smallest land parcel is of 2.63 acres in Chengicherla, the largest is 6.23 acres in Turkyamjal. While a prebid meeting was scheduled on February 27, the opening of documents containing bids was scheduled for March 16. “Unfortunately, the response has been poor. We are unsure of the reason,” said a TSRTC official requesting anonymity.
TRSTC, for the past several years, has been making efforts to increase revenue by other means
“A similar move in the recent past had also resulted in the same kind of response,” he added.
The land parcels were likely to have been leased out so that warehouses, logistics centres or automobile showrooms or service centres could be set up. A renowned property consultant was also taken aboard. Speaking to The Hindu, TSRTC vicechairman and Managing Director V. C. Sajjanar said: “We have to analyse the reason for such a response. We will rework our strategy and get back.”
The TRSTC, for the past several years, has been making efforts to increase its revenue by other means such as leasing out its properties. The idea was to minimise losses incurred due to reasons such as high fuel costs and payments to employees. However, these measures have met with little success.