BDA seeks aid from BBMP, says needs Rs 6,000 crore

BDA seeks aid from BBMP, says needs Rs 6,000 crore

The Bangalore Development Authority (BDA) has sought financial help from Bruhat Bengaluru Mahanagara Palike and other government agencies, saying the fund’s crunch could jeopardise some of its projects.

At the last BDA board meeting, chaired by Deputy Chief Minister G Parameshwara, the financial crisis of BDA was tabled and discussed. The BDA officials proposed to the government and the agencies seeking their help.

“We have told the government that we need Rs 6,000 crore to execute all the works. We need Rs 4,500 crore alone to execute new projects. But the question is how to raise the money? While the government has proposed to undertake projects on a partnership basis, the fact is, executing our own ongoing projects is a problem,” sources in the BDA told DH. By selling corner sites in various layouts and available land parcels across the city, the BDA has estimated that it will earn not more than Rs 2,000 crore. But there is a need for Rs 3,200 crore to develop Kempegowda Layout alone and to execute the housing project approved by the BDA

There is a need for an additional Rs 2,800 crore to execute infrastructure projects across the city like road widening and flyover works.

Thus, the BDA has requested the BBMP to help, the source said.

If it fails to get the aid, BDA has planned to put some of its works on the back burner. This list includes re-development of commercial complexes like Jayanagar and Koramangala; and rejuvenation of parks and lakes, as BDA is unable to improve and maintain them. BDA is also contemplating holding back some of its housing projects. The authority has also planned to hold back some infrastructure works like the widening of Hebbal flyover and Hennur flyover.

“We have estimated that around Rs 55 crore is needed for the Jayanagar complex alone. We have spent Rs 140 crore on the rejuvenation of lakes but are unable to maintain them. Somebody has to come forward.

The BDA pointed out to the government that it should focus on developing layouts and ensuring infrastructure is completed there,” BDA officials told the government representatives.