Bengaluru has been a home for both commercial and residential properties. It is a developing city that has a number of projects in its pipeline. The government has been playing a huge role in the planning and establishment of the city’s infrastructure. Several civic bodies are assigned with the task of maintaining Bengaluru’s fast growing real estate scene. In recent news, the Bengaluru Development Authority (BDA) has taken up the task of developing a residential layout in the outskirts of the city. It is a 3,546 acre land and is supposed to shelter 30,000 structures for residential purposes.
The estimated budget for the basic development of Dr Shivaram Karanth Layout would be Rs 4,500 Crore. This would involve the cost of constructing roads, establishment of proper drainage system, electricity lines and so on. The budget for the project would be mobilized through internal sources in the next three to four years. As per BDA officials, the sum would not be used for land acquisition purposes. People who are giving their lands would be compensated with developed sites.
The Supreme Court has been actively engaged with the Dr Shivaram Karanth Layout project. It has set up a committee to look after the steady completion of the work. This intervention comes as a result of the prolonged halt that the project has already suffered. It was in 2007 that BDA had announced about the residential layout. The plan however, took sixteen years to come to fruitation because of the issues of land acquisition. Appeasing landowners has been the toughest job and has taken much of the time.
A senior BDA official said that the land owners “are unlikely to opt for cash compensation as the guidance value in these villages is very low. Every landowner who parts with an acre of land will be given eight sites of 30×40 square feet each. In return, we will be able to develop around 16 sites in the same land. This will help us, as well as the landowner.” About seventeen villages stretching between Hesaraghatta and Doddaballapura will be used for developing the residential project.
The authorities are auctioning massive amounts of land to collect revenue for the establishment of this particular layout. As of now, 1027 acres of land has been used for the construction of buildings. The left 2,519 acres will be used for constructing the layouts. Overall, this new project will be beneficial for the growing population who have been shifting to the city for its proximity to prime employment hubs. The new address will effectively attract masses and enhance the real estate scenario in Bengaluru.
The final completion of the project will harbor profitable returns for the state and eventually address problems of overpopulation in the urban clusters. This project will distribute the population density of the city and lower chances of problems that comes along with vast population density gap. The project is visionary in its very core. It will benefit all in the long run.