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The Greater Cochin Development Authority (GCDA) has partnered with South Indian Bank's software division to create a new software that will allow GCDA to manage the allocation and rental of its shops more easily, as well as create a database of its rent management activities. Renters will receive notifications and reminders for rent payments via SMS. Officials will be able to closely monitor the system and act if any renters fall behind on their payments. According to a recent submission to the Kerala legislative assembly, the amount of rent arrears owed to GCDA is nearly 7 crores.
The Greater Cochin Development Authority (GCDA) is making a major effort to improve the collection and management of rents for its shops and building complexes. Rent collection has been a challenge for GCDA in recent years and there is reportedly a significant amount of money owed in the form of rent arrears. The aim of the new software system is to simplify the rent collection process, eliminate confusion caused by clerical mistakes, and make it more efficient.
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South Indian Bank's software division is partnering with GCDA on this project, which is an innovative step for local government in the state. The new software will allow GCDA to manage the allocation and rental of its shops more easily, as well as create a database of its rent management activities. This will make it much easier to track the status of rented and vacant shops, as well as their lease and rent history. This will provide valuable insights into the performance of the GCDA's assets and help to optimize the allocation and use of its resources.
According to a recent submission to the Kerala legislative assembly, the amount of rent arrears owed to GCDA is nearly 7 crores. However, GCDA officials have claimed that these figures are outdated and that the actual arrears are much lower. Regardless of the exact amount, the new software system will be a welcome change that will allow GCDA to manage its assets and collect the rent it is owed more effectively.
The new system will also make it easier for renters to keep track of their payments and ensure that they are up to date. Renters will receive notifications and reminders for rent payments via SMS, and if they fail to make a payment, they will receive additional reminders. This will help to prevent confusion and ensure that payments are made on time. Officials will be able to closely monitor the system and act if any renters fall behind on their payments.
Overall, the launch of this new software system by GCDA is a step in the right direction and sets an example for other local government bodies in the state. By digitizing the rent collection and management process, GCDA aims to make it smoother, more efficient, and more transparent. This will allow GCDA to better serve its constituents, manage its assets more effectively, and ultimately increase its revenue.
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