The Bangalore University has enhanced the leased land rent to ₹50,000 per acre with 10% hike in the rent every year to all the institutions and organiations on the Jnanabharathi campus.
The university has around 1,200 acres of land at the Jnanabharathi campus and it has given a total of 273.19 acres of land to 24 institutions and organisations on lease for 30 to 99 years for ₹1 per acre per year to ₹10,000 per acre per year.
The National Institute of Sports (NIS) has got 81.2 acres of land on lease for 99 years, for ₹1 per acre per year.
The Regional Institute of English got 11.11 acres for a 30-year lease, the Institute for Social and Economics Change (ISEC) got 38.21 acres of land for 30 years lease, the Atomic Energy Department has got 15 acres for 99 years lease, the Babasaheb Dr. B.R. Ambedkar School of Economics has 43.35 acres for 30 years and rent of ₹1,000 per acre per year.
The decision to hike the rent was taken in the 166th syndicate meeting of Bangalore University, held on October 31, to be effective from December 1, 2022.
The university has requested all institutions who have a land lease agreement with BU, to enter into a fresh lease agreement at the earliest.
