Chandigarh, Nov. 30 -- Since there are no takers for a number of properties across the city rented out by the Chandigarh Municipal Corporation (MC) due to perceived exorbitant rents, the MC House on Friday passed an agenda to address the issue. The new measure involves reducing the existing rent of those properties, which have not been successfully rented out in three or more auctions, e-auctions, or expressions of interest (EOIs), by 25% to attract bidders. The civic body anticipates that this step will also lead to increased revenue generation.

Even though the collector rates were revised this year, MC's engineering wing is working out on old rates but even then, the shops are not being rented out despite multiple auctions.

In an agen...