Shillong, Aug 7: The state cabinet has approved the extension of the lease for Orchid Polo and Jiva Resort in Sohra for an additional 30 years, with the resorts agreeing to pay 4% of their gross revenue to the government.
The lease extension will be for 30 years, bringing the total lease period to 60 years for both Orchid Polo and Jiva Resort.
The resorts will pay 4% of their gross revenue to the government, in addition to an annual lease rental of Rs 5 lakh.
The resorts were previously paying a fixed lease amount of Rs 2 lakh and Rs 2.48 lakh, respectively.
Addressing media persons after chairing the meeting, chief minister Conrad K Sangma said, “In between that, we have now leased out many properties to different private players and we have extended the lease up to 60 years as the feasibility of the project comes out. Based on that, the Orchid Polo as well as Jiva Resort have requested the government if they can also get another 30 years of lease based on the steps by the government to give to the new parties that are coming in today. Therefore, this came to the cabinet and cabinet has looked at this and we have approved this increase of lease of 30 years more to both of them and we have also decided to increase the amount that they pay to 4% of their gross revenue, which is what is the benchmark for the other resorts that are coming up in that area and the different parts of the state.”
“Therefore, from Rs 2 lakh and Rs 2.48 lakh, they will now have to give us a part of their revenue which is about 4% is what has been decided and at the same time they will have to give an annual lease rental of Rs 5 lakh also to the government,”he added.
