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Karnataka
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Bangalore
BMP to review lease rates
Staff Reporter
Bangalore:
Chief Minister H.D. Kumaraswamy on Tuesday reportedly asked the Bangalore Mahanagara Palike (BMP) to monitor its leased property as the expiry date on such properties has run out.
Lease on several properties of the Bangalore Mahanagara Palike date back to the 1950s and have been given to educational and social welfare organisations, said R.R. Jennu, Joint Commissioner (Development).
The lease rates have to be reviewed taking into consideration the prevalent market rates, he said.
The number of leased properties of the BMP number up to 412 and an asset register might be formed to monitor these properties and make sure that false records are not created.
The BMP is also considering disposing of about 150 of its properties.
"We will have to examine this action. Some properties are small, difficult to manage and keep track of. One of ideas being considered is to sell the properties to the current lease holders at market rates," Mr. Jennu said.
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