<p>With land availability shrinking, Bengaluru is embracing vertical development and going the Mumbai way.<br /><br />About 900 high-rise buildings are set to come up in the city, more than the number that came up in the last four years, Bruhat Bengaluru Mahanagara Palike (BBMP) statistics show.<br /><br />Vertical growth became imminent in 2006, when the civic body started issuing Transfer of Development Rights (TDR), granting permission for additional built-up area in return for plot portions taken up for public projects.<br /><br />Four-fifths of the TDRs issued to landowners were transferred to real estate developers.<br /><br />The BDA has also given a push for vertical development in its 2007-15 Comprehensive Development Plan by increasing the floor-area ratio. This allows for the use of more space on a plot for construction.<br /><br />Since last year<br /><br />Vertical development has picked up pace in the past year.<br /><br />Between 2014 and 2017 (numbers available for this year not complete), the civic body granted 706 occupancy certificates to highrises, including residential apartments and commercial buildings.<br /><br />In contrast, since last year, as many as 819 highrise plans were sanctioned and 89 commencement certificates (permission to start construction) issued, meaning construction will begin or is underway.<br /><br />BBMP chief’s take<br /><br />“Vertical growth must be encouraged because land is a scarce commodity,” BBMP Commissioner N Manjunath Prasad said.<br /><br />He said people now prefer living along the Namma Metro corridor. “The transit-oriented development policy provides floor-area ratio (FAR) up to four, which is bound to increase vertical growth.”</p>
<p>With land availability shrinking, Bengaluru is embracing vertical development and going the Mumbai way.<br /><br />About 900 high-rise buildings are set to come up in the city, more than the number that came up in the last four years, Bruhat Bengaluru Mahanagara Palike (BBMP) statistics show.<br /><br />Vertical growth became imminent in 2006, when the civic body started issuing Transfer of Development Rights (TDR), granting permission for additional built-up area in return for plot portions taken up for public projects.<br /><br />Four-fifths of the TDRs issued to landowners were transferred to real estate developers.<br /><br />The BDA has also given a push for vertical development in its 2007-15 Comprehensive Development Plan by increasing the floor-area ratio. This allows for the use of more space on a plot for construction.<br /><br />Since last year<br /><br />Vertical development has picked up pace in the past year.<br /><br />Between 2014 and 2017 (numbers available for this year not complete), the civic body granted 706 occupancy certificates to highrises, including residential apartments and commercial buildings.<br /><br />In contrast, since last year, as many as 819 highrise plans were sanctioned and 89 commencement certificates (permission to start construction) issued, meaning construction will begin or is underway.<br /><br />BBMP chief’s take<br /><br />“Vertical growth must be encouraged because land is a scarce commodity,” BBMP Commissioner N Manjunath Prasad said.<br /><br />He said people now prefer living along the Namma Metro corridor. “The transit-oriented development policy provides floor-area ratio (FAR) up to four, which is bound to increase vertical growth.”</p>
