It was first proposed that the new bus stand being build will be funded by Hosur municipality itself.  As the funds were not available, it was then decided that the shops will be auctioned and the hefty advance that was planned to be collected will be used for the construction.  But no one was interested to pay the planned hefty advance and so Hosur municipality approached TNPFIDCO and the Hosur new bus stand project is being funded by it.

Now, as per the present plane, Hosur Municipality has to repay the loan amount to TNPFIDCO by collecting Octroi, Shop rents and making money from other utilities like public convenience etc.,

Auction was held three times previously and out of 70 shops available 17 shops were leased while the fourth auction is expected to lease out the remaining 53 shops.

Auction notice was issued by the municipal commissioner Palanivel.