KOCHI: A number of self-financing colleges in the state are up for sale. In the wake of acute financial crisis, managements of about half-a- dozen self-financing engineering colleges and some medical colleges have initiated the process to sell their institutions.The expenditure may vary according to the value of the property, infrastructure and the courses that are being offered. Colleges offering mechanical, electrical and electronics courses could fetch a higher price. The financial burden being incurred by the managements to run the colleges had prompted them to seek buyers with financial stability, the brokers pointed out. “It is better to buy engineering colleges run by trusts as it saves a lot on stamp duty. Otherwise one has to spend nearly Rs 20-50 crore just on stamp duty. But in the case of colleges managed by trusts, only the members of the director board have to be changed,” they said. President of the Kerala Self-Financing Engineering College Managements’ Association G P C Nayar said he had no information regarding the sale of any engineering colleges in the state. “If this is true, then there is a need to look into the matter,” he said. However, he did not deny the possibility of such a situation arising in the near future with as many as 10 to 15 colleges being established each year. The managements have every right to sell the colleges, if desired, as it was their property, he added.
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