The state government has notified the Bruhat Bengaluru Mahanagara Palike (Estate Management) Rules, 2024, to streamline the management of approximately 7,000 properties owned by the civic body.
The new bylaw assigns responsibilities and mandates that the civic body collect an upfront deposit along with monthly rents from leased properties.
The bylaw states that the BBMP can lease its immovable properties at a minimum reserved one-time deposit to government undertakings or non-profit organisations serving the elderly, destitute or differently abled individuals, as well as for religious purposes or other categories with prior government approval.
The BBMP's standing committee has the authority to enter into lease agreements for a period of up to five years. The council can lease properties for terms exceeding five years, but not more than 15 years. Lease agreements beyond 15 years and up to 30 years require the state government's approval.
The bylaw also allows for one extension of a lease once the existing term expires.
The BBMP has the power to lease its properties through public auction, provided the civic body collects an interest-free deposit from the winning bidder along with monthly rents. "The One-Time Deposit (OTD) is refundable to the lessee, without any interest, after vacating the property."
As per the rules, a single eligible bidder can bid for multiple immovable properties, but sub-letting is not permitted. The rules also prescribe a minimum reserved price for the One-Time Deposit.
Published 22 July 2024, 16:45 IST