For the ills plaguing the historic Venkatagiri Rajah’s College (VRC) and allied institutions, citizens of Nellore don’t hesitate to cite its (VRC’s) prime land worth nearly ₹500 crore along with its high revenue-yielding premises as the immediate reasons.
All the properties of the VRC institutions lie like a nodal point around which the chief shopping destinations here, including the arterial Trunk Road, have developed over the years.
In this centrally located place, each acre is now expected to fetch ₹40 crore on an average.
High value
In such a prime location, the VRC institutions are run in over 16 acres with a major chunk of the land being used as playgrounds and often as venues for big congregations and events. Of this land, the VRC College and School have got nearly 11 acres while the remaining 5 acres are located as a separate piece near the Madras bus stand.
Since its inception in 1875, the VRC College has seen a steady rise as a prestigious educational institution. The decline started in the 1990s when power struggle began for its control and at a time when educational institutions in other places expanded vigorously.
The Venkatagiri Rajah’s College and High School Committee, which administers the VRC institutions, has been stuck in legal wrangles and disputes.
Rental income
Besides the high value of property, the high revenue-yielding premises of VRC institutions are another trigger for contenders. The monthly income out of the rentals runs into several lakhs of rupees for which there have been no clear records maintained so far.
