4500 crore residential layout to be developed by Bengaluru development

For its timely completion, a committee is formed by the Supreme Court so that the project can be monitored properly. In a board meeting, BDA approved the cost of the project. Over the next three to four years the authority, through its internal resources, plans to mobilize the revenue.

BDA (Bangalore Development Authority) in the outskirts of the city of Bangalore has begun preparing to formulate a new residential layout.  The authority has calculated the cost of providing basic infrastructure to be around Rs 4,500 crore to Dr. Shivaram Karanth Layout. 30,000 sites will be there in the layout of the 3,546 acres.

For its timely completion, a committee is formed by the Supreme Court so that the project can be monitored properly. In a board meeting, BDA approved the cost of the project. Over the next three to four years the authority, through its internal resources, plans to mobilize the revenue.

Funds for basic infrastructure will be contributing towards the construction of drains, roads, and electricity said the officials.  BDA has not included the cost of acquiring land in its estimation as it hopes to compensate those losing land by giving them developed sites.

As the guidance value in these villages is extremely low, they are unlikely to opt for cash compensation. Eight sites of 30×40 square feet each will then be given to each landowner who parts with an acre of land.

A senior BDA official said, In return, we will be able to develop around 16 sites on the same land. This will help us, as well as the landowner.” Developed sites are expected to be many times greater than the original land’s price without any basic amenities, the landowner is likely to be benefited.

According to the Supreme Court order of providing developed sites on a priority basis to all the land losers, BDA to work on its own may have to mobilize funds for performing initial developmental works. BDA engineer said “We have been auctioning bulk sites and corner sites. The revenue received from these auctions will be used to fund the development of the Karanth layout.”

For the first try, BDA is seriously planning to formulate the layout, which was first announced in 2007.  Across 17 villages located between Hesaraghatta and Doddaballapur, this is going to be formed.

Of the 3,546 acres of land that was initially recognized, buildings have come upon about 1,027 acres of land. The remaining land will be accessible for the construction of layouts. Meanwhile, inhabitants want BDA to develop a different escrow account only for the betterment of this layout from the earnings it receives from selling sites.

Due to the Nadaprabhu Kempegowda Layout mishap, the authority has been under examination, as its allottees have been waiting for sites for the last five years.