JOIN USSoaring prices may have led to denotification
With the denotification of 983 acres in Arkavathy Layout snowballing into a major controversy in the past few days, it has emerged that hundreds of acres that were denotified are located close to the National Highway-7 connecting the Kempegowda International Airport.
The land value has been soaring in areas such as Hebbal, Jakkur, Amruthahalli, Kempapura, all abutting the NH-7, and this is said to be one of the prime reasons for the denotification of lands situated in these areas, according to sources from the Bangalore Development Authority.
High guidance value
The sources said that 89 acres have been denotified in Jakkur, 51 acres in Hebbal, 46 acres in Geddalahalli, 88 acres in Amruthahalli and 15 acres in Kempapura. Interestingly, the guidance value of land in these areas, according to Stamps and Registration Department officials, has shot up.
“The value increased when the areas were notified for the layout formation and also when they were denotified. Now, since a month, the guidance values are more or less the same. But the market prices are 30-40 per cent higher than the guidance value,” an official said.
The official said that the guidance value in and around Hebbal is between Rs 2000- 8400 per square feet. In Byatarayanapura, it is in the range of Rs 2250- 6300 per sq ft. In Jakkur and surrounding areas, the land value ranges from Rs 1000- 3525 per sq ft,and in Amruthahalli, it is in the range of Rs 1000- 3645 per sq ft.
Land has been denotified not only in the areas abutting NH-7, but also around the IT hub of Manyata Tech Park in Rachenahalli. The sources said that the highest, 179 acres, had been denotified in Rachenahalli.
Criteria not followed
Ideally, as per High Court directions, land should have been denotified based on six criteria: located near green belt, located on total built up area, having charitable institutions, religious or educational institutions and land with factories and adjoining areas.
But not all these criteria have been met, while carrying out the denotification, the sources said.