159000 rent for a small shop opp Railway station

With real estate prices in the city zooming up for no specific reason, the Cantonment board will make 13 times more money than it used to get from a single small shop opposite Railway station which is under 400 sq ft in area.

Bella Vista Belagavi

The said shop’s lease is getting over and hence the Cantonment board had invited tenders for the same and one gentleman named Gajakosh has applied to pay a rent of Rs.1,42,000(plus service tax) which makes it 1,59,000 for a month. The Cantonment was getting paid Rs.11,000 for a month until now.

The tender details have now been sent to the Southern command for approval after which the shop would be handed over to the new lessee. 

 

 

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3 COMMENTS

  1. This is absolutely unbelievable ! This kind of rent does not exist in Mini metros also . If it is true , real estate prices in Belgaum would go up very fast which will be beyond the capacity of upper middle class . Even if this is one off case , in the short term say for a year , prices would shoot up in anticipation and the transactions would come down heavily with the result Govt revenue also would go down . Govt should watch such transactions and take corrective actions for the benefit of citizens of Belgaum

  2. the amount we believe is an annual rent fixed ….. can’t be /month.
    just doesn’t make any sense…..
    the cantonment complex has absolutely nothing extraordinary to fetch that kind of rent ……
    infact entire belgaum does not have any commercial space as of today that can fetch a rent of around 400 (397 to be precise as per your news) Rs/sqft.
    we can get cheaper rental on MG road of Bangalore or Pune

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