Urban Development Minister Vinay Kumar Sorake said on Wednesday that the government would amend the Karnataka Town and Country Planning Act, 1961, to increase transferable development rights (TDRs) from 1.5 times to 2.5 times the land acquired for public projects.
The move comes in the wake of low demand for TDR from citizens who part with their property for development projects or road widening.
The law will also be amended for returning civic amenity sites to the developers if the civic agencies do not take possession of such sites within five years.
Sorake said that an expert committee has been formed under Law Minister T B Jayachandra to look into the proposed amendments.
The State government is all set to issue a notification asking private builders and developers to mandatorily reserve 25 per cent of their land for the economically weaker section (EWS) of society.
Sorake said that builders had been taken into confidence before proceeding further in the matter.
“In case a developer cannot earmark space in his project due to lack of land area, he can reserve or construct apartments in another part of the City for the EWS. Apartments, if reserved for the EWS, will be allotted to people within a stipulated income bracket,” he said.