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Tirupati Temple Trust to Auction Immovable Properties | Lockdown: The world's richest Tirupati Balaji temple in financial crisis, plans to auction property


Tirupati Temple Trust to Auction Immovable Properties

Tirupati. According to the Tirumala Tirupati Devasthanam (TTD) Trust, which operates the Tirupati Balaji temple, the temple management has suffered a loss of Rs 400 crore so far due to the corona virus lockdown. The management is working on how to pay the salaries of the employees without touching the temple's 8 tonnes of gold and FDs of 14,000 crores.

Tirumala Tirupati Devasthanam plans to auction 50 of its immovable properties. These assets are in Tamil Nadu, Andhra Pradesh and Rishikesh in Uttarakhand. TTD Board Chairman YV Subba Reddy said the properties identified for auction include small houses, plots and agricultural land. He said that these assets were donated by devotees to the temple many decades ago. It is becoming difficult for TTD to supervise them and they are not making any income. Therefore, TTD has planned to auction them. According to Reddy, the temple management will get revenue of around Rs 24 crore from this auction, which will be used for paying salaries to employees and other works.

60 to 80 thousand come to the temple on normal days and 1 lakh devotees come to visit every day on festive days. The Tirumala Tirupati Devasthan Trust has a budget of 2500 crore annually for the management and operation of the temple.

The income of the temple is 200 to 220 crore rupees every month but due to the lockdown, the temple has not earned any income due to its closure for almost 2 months. The TTD has set a budget of 3309.89 crore for the financial year 2020-21, but the amount received as donation, which is 150 to 175 crore rupees, has been lost after the temple was closed due to lock down in March. . Apart from this, special service tickets, special darshan tickets, prasad and guest house are also sources of huge income of the temple, but due to the lock down, the income from these has also become almost zero.

This temple has a tradition of hair grafting and the hair management also earns 400 crores annually from the auction of hair. 1385.09 crore is spent annually in the salary and other expenses of thousands of employees. TTD has to spend 120 crores rupees every month on the salary of its employees. The income at the time of lockdown is nothing but the expense. Apart from this, a grant of 400 crores is required annually for free hospitals run by TTD.

This post was published on May 26, 2020 12:26 am

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