Greater Cochin Development Authority (GCDA), will soon launch a software-based system for collecting and managing the rents of its shops and building complexes.
According to the officials, there is a massive amount of money to be received as rent arrears and the rent collection of GCDA has been a mess over these years.
Moreover, sometimes, there is confusion over calculating arrears due to clerical mistakes. GCDA aims to simplify the rent collection process by digitizing everything.
The software division of South Indian Bank is associating with GCDA for the project. Once it is implemented, GCDA will be able to easily manage the allocation and renting-out of its shops and create a database of its rent management using the software. Also, it will be easier to track the details of those shops, which are vacant and rented, its lease house history, rent details, etc.
According to a submission made by LSGD minister, M B Rajesh during the previous session of the Kerala legislative assembly, the rent arrears of GCDA amounted to nearly Rs 7 crore. Similarly, the details of the number of shops allocated or not in various shopping complexes and stadiums of GCDA too were submitted by the minister.
However, some of the GCDA officials said that the figures were not reportedly updated as the arrear amount was much lesser and there were many shops that have been rented out recently, which hinted at the lack of a proper record and management of the assets by the authorities.
A GCDA official said that it is the first time a local body in the state is attempting to digitize the rent collection and management system. Lessees will be intimated about the rent payment date in advance through SMS, and if they fail to make payment, frequent reminders will be sent. The officials will be able to closely monitor all of these and take timely action if any is due. The system will be a model for all civic bodies in the state.
Follow and Connect with us: Twitter, Facebook, Linkedin, Instagram
Buying a home is a significant milestone, but the hefty price tag isn't the only…
Tax lien certificates are those that are given to investors who demonstrate their interest in…
The Hindu Marriage Act of 1955 and the Hindu Succession Act of 1955, respectively, set…
Paying a house rent is an important and recurring monthly expense for an individual. Generally,…
Investing in real estate necessitates a lot of research, legwork, and hefty investments. Hence, a…
You're buying or selling a property – an exciting time filled with possibilities. But amidst…
This website uses cookies.