Municipal corporations across major cities of India have always struggled with their finances. And here Bengaluru's civic body which is mortgaging its iconic buildings and places to get loans worth over Rs 1600 crore.

According to a report by IBN Live, the Bruhat Bengaluru Mahanagara Palike (BBMP) has mortgaged many key buildings of the city over the past five years. The list also includes even one of the BBMP's own office.

A file photo of BBMP office | Source:

Here is a look at the numbers:

The buildings are mortgaged for a massive Rs 1,645 crore loan. However, critics have said that the civic body could resort to just collecting property tax efficiently which could significantly improve their finances.

Here's a look at the iconic places which have been mortgaged:

Krishna Rajendra Market

Also known as City Market, it is the largest wholesale market dealing in goods and commodities in Bengaluru. It is also one of the largest flower markets of Asia | Source: Wikipedia

Kempegowda museum, Mayo Hall

Dedicated to Yelahanka chieftain Kempegowda (1513-1569) who is the founder of Bangalore city, the museum built in 2011 is located on the first floor of Mayo Hall | Source: WikiCommons

Public Utility Building, MG Road

Also known as Subhash Chandra Bose Public Utility Building, this skyscraper is one of the tallest buildings and a major commercial centre of Bengaluru | Source: Flickr

Bangalore Town Hall

A file photo of the of the neoclassical Bangalore Town Hall which was put up for mortgage in 2014. It was later cleared in 2015 after the intervention of Chief Minister Siddaramaiah | Source: WikiCommons