BDA Bangalore To Develop Residential Layouts With Private Partnership
Deputy Chief Minister said Bangalore Development Authority (BDA) will develop its residential layouts in partnership with private construction firms. He, who is also BDA chairman, told reporters after meeting BDA officials that discussions were held to ensure that the authority does not incur any loss while developing residential layouts with private entities. BDA is facing losses.
Thus, most of the discussions centred on how to place the authority on the road to making profits, he said, adding that by sharing the money from selling residential sites, BDA was bound to make profits. The private partnership also will expedite the process of developing residential sites and help in providing all basic facilities to owners of sites.
Thus, the meeting decided to draft regulations to govern the private partnerships, he said. The meeting also discussed on relaxing eligibility conditions in order to facilitate the smooth sale of BDA’s apartments and residential sites. Presently, the eligibility criteria insist that those owning land in Bengaluru and those not residing in Karnataka for past 10 years were declared ineligible for buying BDA sites.
The ceiling on preventing the owner from selling the site for a period of five years and other eligibility criteria, if relaxed, will get more buyers for BDA apartments and residential sites, members felt. He also favoured the relaxation of eligibility criteria as it will benefit the site buyers. The meeting also discussed providing basic amenities to BDA residential colonies in Banashankari 6th stage and on Old Madras road.
Source Link- http://www.newindianexpress.com/