Varanasi Municipal Corporation will issue bonds worth Rs 50 crore. Varanasi Municipal Corporation will issue a bond of Rs 50 crore: Commercial complexes will be built in Sigra and Kabirchaura with Rs 58 crore – Varanasi News

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Complex to be built in Sigra at a cost of Rs 26 crore

Municipal Commissioner Akshat Verma said that in the first phase, a building of 2800 square meters will be built in Sigra at a cost of Rs 36 crore. In the second phase, a commercial building will also be built in Veterinary Hospital Kabirchaura at a cost of Rs 22 crore.

City corporation Too will become partner

The Municipal Corporation has received approval from the government to issue bonds worth Rs 50 crore in the first phase. The Municipal Corporation will build commercial buildings at two places with the money raised through bonds. The cost of construction is proposed to be Rs 58 crore. The Municipal Corporation will invest the remaining amount in construction.

SEBI Of seminar In Take finished Training

The exercise to issue bonds of Varanasi Municipal Corporation was going on since 2017. The Municipal Corporation’s executive also agreed to issue bonds worth Rs 100 crore.

A team of the Municipal Corporation had also reached the SEBI office in Mumbai last year to prepare the outline for issuing bonds.

SEBI of Supervision In will happen balance Sheet

With the issuance of bonds, the balance sheet of the Municipal Corporation will be directly under the supervision of SEBI. SEBI will verify the balance sheet.

City Of Development To will get motion

Development works will gain wings in the parliamentary constituency of Prime Minister Narendra Modi. The Municipal Corporation will invest the money raised through bonds in development works. Now the Municipal Corporation has started the process of preparing projects on its other lands in the city which have recently become encroachment free.