The BDA has raked in Rs 3,553 crore in revenue by selling 3,735 sites in various layouts via public auction, in compliance with a recent Supreme Court order.
The public auction method is also expected to bring in significant revenue to the Bangalore Development Authority (BDA), which is undertaking a slew of projects, including developing the Dr Shivaram Karanth Layout, Hebbal junction flyover and preparation of the Master Plan. In the past, the BDA was allotting alternative sites in plots that were developed in the recovered land, which the Supreme Court termed illegal.
Also Read | 670 BDA flats up for sale
BDA chairman S R Vishwanath told reporters on Tuesday that the agency’s financial condition is far better than what it was when he took over.
“The BDA has a bank deposit of Rs 1,012 crore. When I assumed charge two years ago, there was a deposit of only Rs 260.20 crore. Much of the revenue was earned by auctioning intermediate plots, seizing BDA land from grabbers,” he said.
The BDA, he said, has taken up works worth Rs 2,000 crore for the development of roads in layouts such as Anjanapura, Anjanapura Extension, Banashankari 6th Stage, Sir M Visvesvaraya, etc.
"Not taking up the Peripheral Ring Road project is my biggest regret. The confusion around land compensation was the key reason,” he said.
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