The Ahmedabad Municipal Corporation (AMC) has established a nine-member Asset Monetisation Cell.
Spearheaded by Commissioner Banchha Nidhi Pani, this initiative aims to unlock the economic potential of the city’s vast array of physical and digital assets. The cell’s primary focus is to monetise 4,113 leased properties, collectively valued at over ₹2,000 crore. These properties include high-value assets such as the Municipal Market on CG Road. By strategically leveraging these assets, the AMC seeks to generate substantial revenue streams to fund urban development projects and enhance municipal services.
In addition to physical assets, the AMC plans to capitalise on the extensive data collected through its Smart City initiatives. This includes citizen tax data, traffic patterns, utility consumption records, and municipal service usage statistics. The Asset Monetisation Cell will review these datasets to determine which can be commercially sold, providing valuable insights to private companies and research organisations. The committee’s mandate extends beyond data and property. It will explore the development of reserved plots through public-private partnership (PPP) models and consider renting out municipal school premises during non-operational hours. Furthermore, the AMC is contemplating allowing private buses to operate on Bus Rapid Transit System (BRTS) corridors as a new revenue stream.
To ensure the success of these initiatives, the Asset Monetisation Cell will meet every 15 days to review progress and address legal and financial considerations. This includes assessing the feasibility of renting out municipal equipment and vehicles and evaluating the tax and GST implications when assets are sold, leased. The establishment of the Asset Monetisation Cell marks a significant step towards financial sustainability for the AMC. By unlocking the value of its assets and data, the corporation aims to create a self-sustaining model that reduces reliance on traditional revenue sources and fosters innovation in urban governance.
As the city continues to evolve, the success of this initiative will depend on effective implementation, robust infrastructure, and continued collaboration between the central and state governments. The AMC’s proactive approach to asset monetisation sets a precedent for other municipal corporations across India, highlighting the potential of leveraging city assets to drive urban development and improve the quality of life for residents. In conclusion, the AMC’s Asset Monetisation Cell represents a forward-thinking approach to urban governance. By capitalising on its assets and data, the corporation is paving the way for a more sustainable and efficient future for Ahmedabad.
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