Construction Industry News
The Bengaluru Development Authority (BDA), which plans to build a new residential area on the outskirts of the city, estimates that providing basic infrastructure to Dr. Shivaram Karanth Layout will cost about Rs 4,500 crore. The 3,546-acre layout could include approximately 30,000 sites of various sizes.
A committee appointed by the Supreme Court is overseeing the project to ensure it is completed on time. The project costs were approved by BDA in a board meeting earlier this week. Over the next three to four years, the authority plans to raise the funds from internal resources.
The basic infrastructure fund will contribute to the construction of roads, sewers and power lines, according to officials. The cost of acquiring land is not included in the BDA's estimate, as it hopes to compensate those who lose land by providing them with built-up areas.
The landowner is likely to benefit because the cost of built-up land is expected to be several times higher than the cost of undeveloped land. Because the Supreme Court has ordered land losers to be given developed sites on a first-come, first-come, first-served basis, BDA may need to raise funds itself to begin initial development work.
The BDA is taking the layout seriously for the first time since its announcement in 2007. The layout will span 17 villages between Hesaraghatta and Doddaballapura. Buildings are constructed on approximately 1,027 acres of the 3,546 acres of land originally identified. The rest of the land will be available for creating layouts.
Citizens want BDA to create a separate escrow account from the revenue it earns from selling sites solely for the development of this layout. The authority has been criticized as a result of Nadaprabhu Kempegowda Layout's debacle, which has left allottes waiting in locations for the past five years.
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