The plan is to reclaim all such property of the corporation, the lease of which have expired.

The total area of the properties that have been leased stands at 133 acres and 38 guntas for an annual rent of `57 lakh whereas the market value for the same stands at `1,364 crore, said Siddaiah, BBMP commissioner.

He said the Palike had initiated necessary efforts to recover what was rightfully theirs and that there were no applications for renewal of lease.  

Sources said there were 373 properties that had been given out on lease and while 192 properties are still under contract, the lease had expired for 181 properties.

The lease period of these properties were from 1-99 years.

Sources said 63 of the properties were leased for government-related works, such as constructing post offices, government offices and others, while 31 properties were leased to temples and other religious institutions.

But the Palike’s main aim is to recover 127 properties that have been given to private individuals and 121 properties given to private organisations.

Also, 30 properties have been leased to private organisations for educational institutions or schools and other such purposes.

There are 12 cases pending in various courts for different reasons, while nine cases of the 373 have been recovered by the Palike.

There are also 14 cases pending at the government’s level for renewal.