Facing a severe financial crisis, Jawaharlal Nehru University (JNU) has chalked out plans to generate revenue by monetising two key properties. The university intends to either redevelop these assets or lease them out to private companies to create a steady source of income.
The two properties under consideration are the Gomti Guest House and the building at 35 Feroz Shah Road. According to The New Indian Express, the university also plans to ask the Education Ministry to collect rent from the 12 national institutes currently operating on its campus.
JNU Vice-Chancellor Santishree D. Pandit has outlined the financial problems of the university and stressed that the shortfall in revenue is largely due to the large subsidies it receives from the central government. JNU is pushing for Institute of Eminence status, which would bring in a significant amount of capital and ease its financial burden.
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As for the monetisation plan, the university is exploring options like redeveloping the 35 Feroz Shah Road property under a public-private partnership, which would require approval from the central government. Similarly, JNU plans to lease out the Gomti Guest House near the FICCI building to a private company. This would help offset the maintenance costs that currently burden the university with no revenue, The New Indian Express reported.
In addition, JNU is trying to sign lease agreements with the government institutes on its campus, which have been running rent-free so far. The rental income from these institutes could provide a stable source of income for the university, which has limited options for fundraising due to restrictions on fee hikes.
The university is also taking steps to reduce its operating costs by installing solar panels on campus, as electricity remains one of its largest costs.
