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BBMP properties leased out at a diminutive rate

Comments(2) Sub Category:Bangalore,Commercial Real estate,Realty News Posted On: Dec 19, 2012

Bangalore- Most of the properties owned by the Bruhat Bengaluru Mahanagara Palike (BBMP) are either leased out at a much lesser rate than the actual market rate or have been used in violation of norms.

An inspection of such properties was carried out by Bangalore Mayor D Venkatesh Murthy during which he found out that the leaseholders were paying very little to the Palike. Following this, he asked the officials to prepare a list of Palike’s leased out properties.

The inspection was carried out on Queen’s Road and Jasma Bhavan in the East zone of the BBMP. The Mayor inspected Prakash Padukone Badminton Association, Karnataka State Billiards Association, URS Association, Indian Council of Social Welfare and realized that the lease agreements were violated.

The rent and lease amounts of 35 BBMP owned properties in Bangalore were never revised since 1975, claimed the officials who accompanied the Mayor during the inspection.

The Mayor ordered to launch a drive against those who have not followed the conditions of lease and those who have constructed beyond the permitted level which is in violation of  building plan.

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2 Responses to “BBMP properties leased out at a diminutive rate”

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