Meghalaya govt to float fresh tender for Polo Market shops at lower rental rates

Meghalaya Deputy Chief Minister Sniawbhalang Dhar on July 7 said the state government will issue a fourth Expression of Interest (EOI) for commercial spaces at the Polo Market complex with reduced rental rates after three previous attempts failed to attract bidders.

Speaking to reporters, Dhar said the high lease rates had discouraged prospective tenants from coming forward.

"We have floated the EOI three times, but no one has responded. The rates were too high. We have decided to go again for an EOI, but this time we will reduce the rates," he said.

The deputy chief minister said the government is keen to make the Municipal Polo commercial complex operational at the earliest and is revising its leasing strategy to attract a wider range of businesses.

Under the revised plan, the government will offer flexible leasing options, allowing entrepreneurs to lease either the entire space or smaller portions of the complex.

"We want the building to become operational immediately. We will provide opportunities for those who want to lease the whole space as well as those interested in smaller portions. We also want to give small entrepreneurs a chance," Dhar said.

He added that the fresh EOI is likely to be floated within the next week or shortly thereafter.

Dhar also said the Business-cum-Tourism Centre at the Polo Market complex is nearing completion and that the government will soon invite tenders for its operation, paving the way for the facility to become functional.