The rates were last hiked in July 1988. The proposal by the deputy municipal commissioner in charge of estates said the rates in the market were increasing stiffly, and it was necessary to revise charges to make the BMC's rates commensurate with market ones.

The Corporation owns approximately 45,000 tenements, including shops in various BIT chawls, acquired properties, transit camps, and properties constructed under the slum clearance scheme.

Municipal officials complained that occupants of the tenements dispose them directly, without any knowledge or consent of the BMC, and then approach the corporation for effecting the transfer.

``It is common knowledge that such transactions involve a large amount by way of transfer fees and other charges, but the corporation,which owns the property, gets a negligible amount as transfer fee,'' an official said.All the tenements have been divided into three categories: residential, commercial and industrial. The transfer fee for residential premises up to 180 sq ft has been increased from Rs 5,000 to Rs 10,000. For commercial tenements, the fee has been hiked from Rs 32,000 for every 100 sq ft to Rs 65,000 for the same area. For every additional 10 sq ft, the increase is between Rs 3,500 to Rs 6,500.

The security deposit for residential tenements, which was Rs 5,000, has been increased to Rs 10,000, and for commercial ones, it has been hiked from Rs 20,000 to Rs 40,000.