Rent of govt properties in maha raised
The Maharashtra Cabinet on Tuesday approved the decision to increase the rent of the government properties leased to private parties. All of these properties were leased before Independence, and the government earned poor revenue from them. Now, the lease duration will not be more than 30 years, and rent will be revised every five years.
This was the fourth time that the state government has taken the decision to raise the rent of leased plots in Mumbai city and suburbs.
The new annual rent will be based on the price of land as per ready reckoner value as on January 1, 2012. “The state is expecting to earn hundreds of crores of rupees by implementing the decision,” said chief minister Prithviraj Chavan.
As many as 1,282 major properties in the island city and 295 properties in the suburbs have been leased for 50, 99 or 999 years.
Many of these lease terms have actually expired, but their values have not been reviewed.
The state has identified 517 out of 1,282 such properties in the island city and 149 out of 295 in suburbs whose lease periods have already expired.
“Some have expired in the 1970s and 90s and amount of rent needs to be re-looked when they come for renewal...,” Mr Chavan said.
Post new comment