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The strategic analysis of asset management to provide a proactive support for a municipality is an important function of a municipal government. Real asset management of a municipal, regional or state property lacks focus and is majorly considered as a sunken cost in providing better services by the process of privatization. Various attempts to handle the issues related to asset management have resulted in budgetary problems. This paper proposes an empirical approach in support of a Municipal Asset Management with respect to Kumbakonam Municipality.