Bangalore Development Authority may Venture with Realty Developers to Bring New Projects in Joint Collaboration
The Bangalore Development Authority (BDA) has shown signs of entering into agreements with realty developer firms to bring new projects in joint collaboration on the vacant lands the authority owns in different parts of the city.
As per the revelations of an audit report, conducted by the BDA, a total of 357 acres of land in nearly 64 residential spaces the authority has developed over the years are vacant and is litigation-free. To expedite the process the proposal was discussed at the Board of Directors meeting here on past Monday. While answering to various queries the BDA Commissioner, Mr B Rajesh Gowda mentioned that BDA would write to the state government of Bangalore for its consent. He further added that the BDA is currently reviewing the land documents to confirm and a fact check whether there is any litigation and if the land acquisition process was completed by providing compensation back then.
The board of directors has also jointly decided to regulate a global tender for the development of this masterpiece 65-km long peripheral ring road (PRR) road project. However, the authority had earlier planned to move the project via the Swiss Challenge model where multiple of other firms would also get a chance to present a better rate than the proposal presented by the first party.
Other major decisions taken at the board meeting were: development of a premium township in Konadasapura, approval granted to the annual budget of BDA of INR 2,252 crore and others.
