BDA owns real estate worth Rs 56,000 cr in city, says audit report

The Bangalore Development Authority (BDA) may not have formed any new layouts in the past 15 years, but it has one of the largest land holdings in the city in terms of real estate value.

According to preliminary reports on the ongoing audit of its property, BDA holds real estate space worth a whooping Rs 56,000 crore in just 12 of its layouts.

These include corner sites, vacant un-allotted plots and other commercial spaces.

“The auditing, which started in November 2016, has been completed in just a few layouts,’’ a senior BDA official said. These include Dollars Colony, Jayanagar, Banashankari 2nd and 3rd Stages, HSR Layout and Malleswaram.

BDA has 251 layouts in the city, the officer said, adding that property audit may continue till the end of this year.

The preliminary audit report also pointed out that there are 6,000 corner sites with an estimated market value of Rs 3,500 crore. BDA also has commercial complexes and unsold sites.

Besides identifying its properties, the audit is also a part of BDA’s exercise of formulating the revised master plan which is still being finalised.

“This will also help us ascertain how many people have purchased BDA sites but have not constructed any structures on them.

“After serving them notices, their sites will be taken back in due course of time,” the official added.

Despite holding such prime land across the city, BDA continues to be cash starved. “We are assessing our properties to know which are vacant, encroached, sold and unaccounted sites,’’ the officer said, indicating that they can mobilise enough money to take up infrastructure projects.

He added that BDA is in need for finances to take up developmental works like construction of peripheral ring road, underpasses, flyovers and even housing projects. Land acquisition for construction of the peripheral ring road and for road widening is a major challenge.

The Urban Development Department had also sought details of vacant land with BDA which can be used for trading under TDR with people in lieu of their land. Thus a detailed audit is being done.