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Karnataka: Govt planning to sell its leased land
Team Udayavani, Jun 26, 2020, 11:35 AM IST
Bengaluru: The State government is planning to sell its land already leased to private entities to stave off some of the revenue shortfalls due to the COVID-19-induced lockdown.
Several companies, educational institutions and places of worship have leased land from the government. The lease for this land is renewed annually.
The government now proposes to sell off the land to the lessees at market rate to replenish the State’s treasury.
Law Minister Madhuswamy has stated that the government would sell these properties to their present occupiers instead of renewing the yearly lease.
In case if the lessees refuse to buy the land then the government will take back ownership of the land.
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