HOSUR: A government-built shopping complex near the Hosur bus stand has remained largely unused as traders are unwilling to take shops on rent, raising concerns that Rs 19.50 crore spent from capital grant funds is now lying idle.
The two-storey complex was constructed after demolishing the old municipal office building near the bus stand in Hosur, Krishnagiri district. It was inaugurated on March 13, but has not attracted tenants for the past five months.
According to the details shared locally, the rent has been fixed based on square footage, ranging from Rs 12,534 to Rs 61,335. Prospective tenants are also required to pay an advance deposit of Rs 5 lakh to Rs 10 lakh, which traders say makes it difficult to earn adequate returns.
Traders have also cited uncertainty over footfall, as the suburban bus stand is planned to be shifted to the Bathalapalli area in the coming months. With the current bus stand expected to become a town bus stand thereafter, many believe business prospects around the complex may weaken.
Social activists suggested that since the new complex has parking facilities, converting one floor into a theatre-like operation could draw visitors and encourage more shops to open, helping the corporation generate revenue.
