BBMP to auction leased out properties to improve revenueMany years back the BBMP leased out 394 properties to various organisations. BBMP is getting very poor returns varying from Rs. 100 to Rs. 1000 per annum as a lease money. Some of the leases have already expired. In order to improve its revenue the BBMP has now thought of getting the buildings vacated and auction them so that its revenue improves. The money earned will go to its corpus and the interest earned on that fund will yield good income for BBMP.
Some of these buildings are housing schools or other welfare departments of the government. It certainly will effect these entities. KRS members may express their views on this move of BBMP.