Bangalore University has increased the annual rent of leased land to ₹50,000 per acre.
Story so far: Around 1,200 acres of the university’s land are located on the Jnanabharathi campus, and a total of 273.19 acres have been leased for 30 to 99 years to 24 institutions and organisations for between $1 and $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 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.
Other institutions: The Atomic Energy Department has a 99-year lease on 15 acres, the Regional Institute of English has a 30-year lease on 11.11 acres, the Institute for Social and Economic Change (ISEC) has a 30-year lease on 38.21 acres of land, and the Babasaheb Dr BR Ambedkar School of Economics has a 30-year lease on 43.35 acres with a rent of ₹1,000 per acre per year.