In a recent development, Bengaluru’s Development Minister, DK Shivakumar, raised a request with the Justice AV Chandrashekhar committee overseeing the creation of Dr Shivaram Karanth Layout.
During a meeting at the BDA office, an official reported that 20 ft wide roads were laid to accommodate the 20×30 sqft sites, aligning with their specific dimensions. Attempting to change the site dimensions now would require redoing the roads, an undertaking deemed unfeasible due to the completion of the layout. Minister Shivakumar, acknowledging the constraints, aligned with the committee’s decision, emphasizing the practical challenges associated with such modifications.
The Dr Shivaram Karanth Layout, touted as the second-largest in BDA history, encompasses a total of 30,000 sites, with plans to allocate 15,000 to the public. The remaining sites will be designated for landowners and revenue site holders. Notably, 4,400 sites within the layout adhere to the 20×30 sqft dimensions. Despite the initial aim to allot sites by December, achieving this deadline appears increasingly unlikely.
In a separate meeting with senior BDA officials, Minister Shivakumar proposed exploring a payment structure akin to private builders for BDA home buyers. He suggested that buyers contribute a portion of the residential project cost in advance, a practice commonly observed in private real estate. Private developers typically collect around 10% of the project cost upfront from home buyers, a strategy that contrasts with BDA’s current approach of seeking public investment only after the entire project is completed.
Additionally, Shivakumar urged officials to take proactive measures to address the unsold inventory, including approximately 2,500 existing flats and an additional 5,000 flats currently under construction. The proposal involves employing advertising and marketing strategies similar to those employed by private builders to promote the sale of these properties. This initiative aims to expedite the allocation process and enhance the overall efficiency of the residential projects.