<p>Bengaluru: As the BBMP earns a pittance from the properties that it has leased out to private and public entities, the state government has laid down a standard operating procedure (SOP) to manage its properties better and that includes executing lease and sale deeds.</p>.<p>The BBMP has leased close to 7,000 properties, and some of them are due for renewal. </p>.<p>Under the Bruhat Bengaluru Mahanagara Palike Estate Management Rules, 2023, which was introduced recently, the civic body can sell its immovable properties only to government institutions and enter into lease agreement with private entities only through a public auction. The rule prohibits the sale of BBMP property to a private entity. </p>.<p>Guidelines have been laid for executing sale and lease deeds as well as the steps to be taken for auctioning of properties and at the time of renewal of lease. If the BBMP is leasing a building that has many shops, it is required to reserve 18% for the members of the SC/ST community and 2% for persons with not less than 40% disability. </p>.Eyeing record tax haul, BBMP unveils 82 self-funded projects .<p>“The sale of BBMP immovable properties shall be only to the departments of the state or the central government or the public sector undertakings or organizations owned by the state or central govt and not to anyone else,” the rule states. The BBMP can fix the rate based on the guidance value but the state government has reserved the right to give a rebate on the same by either partially or fully exempting the entity for paying the money. </p>.<p>As lease is a crucial subject which involves agreement with private entities, the government has authorized the standing committee to execute lease deeds of an immovable property for a term not exceeding five years. The council has the power to lease a property for a term between five to fifteen years and the state government can decide beyond fifteen years but not exceeding thirty years. “No lease beyond a term of 30 years be given for the immovable properties of the BBMP,” the rule states.</p>.<p>Barring government institutions and not-for-profit organizations working in the health and education sector, the BBMP is duty-bound to lease the property only by public auction. The zonal commissioners have been given the power to auction by fixing the auction upset price (base price) on the basis of guidance value. A single eligible bidder can bid for as many immovable properties as he or she wishes. “But the subletting is not permitted.” </p>
<p>Bengaluru: As the BBMP earns a pittance from the properties that it has leased out to private and public entities, the state government has laid down a standard operating procedure (SOP) to manage its properties better and that includes executing lease and sale deeds.</p>.<p>The BBMP has leased close to 7,000 properties, and some of them are due for renewal. </p>.<p>Under the Bruhat Bengaluru Mahanagara Palike Estate Management Rules, 2023, which was introduced recently, the civic body can sell its immovable properties only to government institutions and enter into lease agreement with private entities only through a public auction. The rule prohibits the sale of BBMP property to a private entity. </p>.<p>Guidelines have been laid for executing sale and lease deeds as well as the steps to be taken for auctioning of properties and at the time of renewal of lease. If the BBMP is leasing a building that has many shops, it is required to reserve 18% for the members of the SC/ST community and 2% for persons with not less than 40% disability. </p>.Eyeing record tax haul, BBMP unveils 82 self-funded projects .<p>“The sale of BBMP immovable properties shall be only to the departments of the state or the central government or the public sector undertakings or organizations owned by the state or central govt and not to anyone else,” the rule states. The BBMP can fix the rate based on the guidance value but the state government has reserved the right to give a rebate on the same by either partially or fully exempting the entity for paying the money. </p>.<p>As lease is a crucial subject which involves agreement with private entities, the government has authorized the standing committee to execute lease deeds of an immovable property for a term not exceeding five years. The council has the power to lease a property for a term between five to fifteen years and the state government can decide beyond fifteen years but not exceeding thirty years. “No lease beyond a term of 30 years be given for the immovable properties of the BBMP,” the rule states.</p>.<p>Barring government institutions and not-for-profit organizations working in the health and education sector, the BBMP is duty-bound to lease the property only by public auction. The zonal commissioners have been given the power to auction by fixing the auction upset price (base price) on the basis of guidance value. A single eligible bidder can bid for as many immovable properties as he or she wishes. “But the subletting is not permitted.” </p>