New Project Approvals Bangalored

A new look for Brand Bangalore. That’s what is expected to take shape shortly with the approval of Bangalore Metropolitan Region (BMR) master plan, complete with integrated townships, ring roads and expressways. But developers have become restive since all project approvals have been kept on hold till the Bangalore Master Plan is finally cleared.

Sources in the Bangalore Metropolitan Region Development Authority (BMRDA) said the cabinet will take a decision on the master plan shortly in order to ensure a planned growth of the state capital on a formula that would also help retain the tree cover, water bodies and heritage sites. Recently, a presentation on this master plan was made to the Chief Minister H D Kumaraswamy by Sudhir Krishna, Commissioner, BMRDA, the sources added.

The Metropolitan Commissioner says the BMRDA would look into each plan (for conversion of land from agriculture to non-agriculture purposes) and approval of new townships, pending the government’s go ahead for the master plan.

The BMRDA has submitted the interim master plan for the local planning areas of Magadi, Kanakapura, Hoskote, Nelamangala and Anekal and area planning zones for Ramanagaram and Chennapatna.

However, land and township developers seeking quick approvals for their projects, have been growing restless. Their contention: With the master plan pending, land conversions and plan approvals have been put on hold.

The BMR constitutes around 8,000 sq km spread over Bangalore Urban and Rural districts and is covered under five Area Planning Zones (APZs).

“Investments of around Rs 10,000 crore have been blocked due to the delay. There are about 150 layouts that are coming up in BMR. We have to sustain the employees, suppliers and consultants,” said Roy C J, General Secretary, Karnataka Township Developers Association (KTDA).

To protest the delay in approval of the master plan, members of KTDA and Karnataka Land Developers Association even sat on, dharna last week and submitted a memorandum to Sudhir Krishna.

In the property market, the delay in project clearances has created a tenuous scenario. Industry sources said developers had pre-sold sites and taken bookings from customers and retailers for projects they hoped to launch.

On the other hand, these developers had simultaneously signed agreements with landowners. With the freeze on approvals, both landowners as well as property buyers are ruing their decision. The landowners are not being paid their money, while those who have booked property will have to wait a while to take delivery

India Real Estate Blog