BENGALURU: Bangalore Development Authority (BDA) Commissioner G C Prakash claims that a sum of nearly Rs 30,000 crore can be mobilized by March 2021 through the sale of 12,000 corner sites as well as regularizing nearly 72,000 illegal structures that have cropped up on its lands over the years.

The Chief Minister announced on Monday that BDA properties would be used to mop up revenue for the government. However, officials within the BDA as well as those familiar with issues pertaining to the sites charge that this is a tall order.

The BDA has been in the red for quite some years and is desperately in need of funds to resuscitate itself. Asked about it, Prakash told TNIE, “This is an emergency situation for the state due to the COVID crisis and we need to do whatever we can to help the government. This is a way in which we can support them.” The authority would amend 38 (D) of the BDA Act so that all illegal structures could get regularised by occupants through payment, he added.

However, the figure of 12,000 corner sites has baffled many inside the BDA who felt it was exaggerated. No official was able to tell if any survey was done to arrive at this number.

An official familiar with BDA sites gave this rough break-up of corner sites at its different layouts: 3,000 at Visveswaraiah Layout, 1000 at Banashankari, 1,500 at Anjanapura, 500 at Arkavathy and nearly 4,500 at Kempegowda Layout. “If this break up is considered, maybe it could add up somewhere close to the figure. However, it is wishful thinking that public are going to rush to buy these sites, particularly in the financially strapped times we are going through presently,” he pointed out.

The official added that the auctioning of corner sites in Visveswaraiah Layout began nearly two years ago and the rate announced was Rs 7500 per square feet. “The response was very poor and it was brought down to nearly Rs 5,000 per sqft and is still struggling. In the case of KG Layout, the BDA cannot auction corner sites without developing the layout. Though 10,000 sites have been allotted already, basic infrastructure like roads, electricity supply and drinking water are yet to be put in place in many parts," he said.

Regularising illegal constructions is extremely tough, another official pointed out. "The amount levied to regularise it will be huge. How many will be willing to pay so much to regularise it? We have been trying to remove illegal encroachments on our properties for decades now. All this is easier said than done," he said.

An expert on financial affairs (requesting anonymity) said that the real estate business was on its knees now and it was wishful thinking that any one will come forward to invest in property until the economy recovers. "It will be a miracle if the BDA manages to contribute even Rs 3,000 crore to the government through both these ventures."