Gangaram's to move out of M G Road

Gangaram’s is now set to shift to St Mark’s Road atop Koshy’s restaurant.

Confirming this to Deccan Herald, Prakash, one of the sons of the Gangaram’s owner, said: “We will go to the sub-registrar’s office on Thursday (November 25) to get the agreement done for the property above Koshy’s Cafe and will make an official announcement later.”

The rental agreement for the current property owned by Kannappa Narayan expires in September 2011 and Gangaram’s has decided not to renew the agreement due to increased property prices on M G Road. Gangaram’s had moved in to M G Road in 1983 after the collapse of their old building near Kapali theatre.

“We will first move the books section to St Mark’s Road and keep the stationary here (M G Road) until the rental agreement lapses,” Prakash said.

Atmaram, Prakash’s older brother, said it wasn’t financially viable to continue at the current address as the rent demand was eight times more than what they paid currently.

However, Kannappa Narayan told Deccan Herald that he had demanded Rs 300 per sq ft to renew the lease as realty prices on the road had increased and with the Metro also scheduled to begin operations, it was not unreasonable.