MCC proposes to hike rent on its properties

It owns 1,941 structures in prime locations

The revenue of the Mysuru City Corporation (MCC) is expected to increase with the MCC resolving to submit a proposal to the State government for revising the rent of its properties located in major markets and commercial hubs here.

As the rent being paid by the tenants is paltry and has not been hiked from several years, the MCC decided to revise it to boost up its sagging revenue, but it has been resisted by the tenants.

In this connection, a meeting was convened at the MCC office here on Saturday where over 300 tenants and their representatives attended. Mayor R. Lingappa presided over the meeting. Officials from the MCC were also present.

Mr. Lingappa told

The Hindu that the tenants had reportedly agreed to pay Rs. 26 per sq feet for shops in and around K.R. Circle, a major commercial hub; and Rs. 15 per square feet in markets like the Devaraja Market.

The Mayor said a meagre rent between Rs. 500 and Rs. 800 a month was being paid by the tenants for the prime space in commercial hubs. They (tenants) had suggested doubling the rent but the MCC decided to fix the rent on square feet basis and accordingly the rent has been fixed, he explained.

If the rent is calculated in square feet basis, some shops are paying Rs. 4 per square feet, he replied.

Obviously, the MCC’s income will shoot up with the rent getting revised and the accurate jump in revenue may be known after the revision, he said, adding that the revised rents are expected to come into effect from May 1.

Speaking to The Hindu , Revenue Officer Jagadeesh said a proposal on the revised rent that was decided in the Saturday’s meeting will be sent to the government for its approval.

The revised rent will come into effect subject to its consent, he added.

He said the MCC owns 1,941 properties that have been given on rent in markets such as the century-old Devaraja Market, Vani Vilas Market and commercial hubs like K.R. Circle.