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27 private institutions keen to buy CA sites in Bengaluru
27 private institutions keen to buy CA sites in Bengaluru
Twenty-seven private institutions have come forward to buy civic amenity (CA) sites across Bengaluru after the State government allowed the Bangalore Development Authority (BDA) to sell these much-coveted properties.
Bengaluru: Twenty-seven private institutions have come forward to buy civic amenity (CA) sites across Bengaluru after the State government allowed the Bangalore Development Authority (BDA) to sell these much-coveted properties.
According to the reports, the authority has leased a total of 1,257 CA sites across BDA layouts in Bengaluru to different institutions for a 30-year period. The BDA allots the sites as per its CA sites rules of 1989, according to which 10% in every layout is reserved for civic amenities and many of the city's landmark educational and religious institutions are situated on CA sites. Now, 27 private intuitions have come forward to buy the sites. 'Buying an infrastructure site is up to the choice of leasing firms or institutions. Therefore, it is not possible to estimate just how much revenue will be generated from these sales. As of now, firms have already come forward to purchase the sites," said a BDA senior official.
The Urban Development Department has amended the provisions of the BDA Act (CA sits allocation), using the powers available under Section 69 of the BDA Act of 1976 which allotted CA sites "that have been utilised for the purpose for which it is allotted" can be sold. "Only those to whom the CA site has been allotted can purchase.
"But these CA sites will be sold to allottees who are willing to buy them at 'site value', which will be fixed based on the prevailing guidance value. The government hopes raise an estimated Rs 3,000 crore from this," another senior official added.
The revised protocol was published in the statement of July 28 and the authority invited applications in August from interested organizations. It is said that the site value will be fixed based on the guidance value, the location of the site, availability of road which CA sites allocation committee is established under subsection 2 of BDA rule 7. Once sold, no further sale will be allowed without the BDA's consent.
In May, BDA issued a notice to 34 institutions that owed rent dues. Those will be given the opportunity to buy the property only after dues are cleared.
