The Hindu 04.01.2014
BBMP looking at selling some leased properties at market price: Mayor
Mayor B.S. Sathyanarayana said here on Friday that the
Bruhat Bangalore Mahanagara Palike would urge the government to provide
special grants totalling Rs. 1,000 crore over the next three years as it
will “help the BBMP to close loans and clear the pending bills and
become financially stable.”
He also said: “The BBMP
is now looking at leased properties. Some properties may be sold at
market rate, which will bring some revenue to the civic body. We will
seek government’s approval for the same.” He added that there were many
properties whose lease periods have expired. The officials have been
directed to prepare a list of leased properties.
The
BBMP has already pledged Krishna Rajendra Market and Public Utility
Building with the HUDCO (Housing and Urban Development Corporation)
towards “loan restructuring” i.e. closing some loans with high interest
rates by borrowing at low interest rates.
The Mayor
announced that soon a memorandum of understanding would be signed with
corporates for maintenance of BBMP’s parks, lakes and hospitals. “We
have asked the Chief Minister to give us a date to hold a summit for the
purpose at Freedom Park,” he added.
The Bruhat
Bangalore Mahanagara Palike has outstanding loans totalling more than
Rs. 3,500 crore and pending bills totalling Rs. 1,600 crore.
The
civic body’s main revenue source is property tax. Though there are over
16 lakh properties in the city and the tax target is over Rs. 2,000
cr., the BBMP has been able to garner only Rs. 1,300 crore. Though there
are over six lakh traders with commercial tax licence, only around
40,000 trade licences have been issued by the BBMP.
Civic body to seek Rs. 1,000 crore special grants from government.
