Bangalore Development Authority clears Rs 185 crore debt in 2 years, sits on Rs 1,000 crore surplus

BENGALURU: The Bangalore Development Authority (BDA), which was saddled with Rs 185 crore debt two years ago, has cleared all its dues and now has over Rs 1,012 crore in its bank accounts.
Disclosing this at a press briefing on Tuesday, BDA chairman SR Vishwanath attributed the agency's financial self-reliance to the recovery of its properties from land-grabbers and also raising of Rs 3,553 crore by selling odd sites in public auctions over the last two years.
He claimed that BDA had also cleared all its pending bills of over Rs 2,485 crore.Vishwanath also said that the much-awaited Dr Shivaram Karanth Layout will be developed within a year as all the cases related to the project have been cleared.
Land acquisition, providing civic amenities, including construction of roads, drains and electricity-related works, will be done quickly. "The allottees can build and live in that layout within the next two years," he said. He said the BDA is preparing site allotment rules to assign sites for the public and those who lost their land to the project.
10% concession
The BDA had announced a 10% concession in prices fixed for the flats at Kanaminike. The public can utilise this offer which will close on June 30.
Vishwanath said BDA had constructed apartments at various locations in the city and it sold over 1,500 flats at Doddabanahalli, Alur, Malagala and Kanaminike. There are a few flats left for sale in Kommaghatta, Kanaminike and Doddabanahalli. Also, the BDA's villa projects at Hunnigere, off Tumakuru Road, have reached the final stage of construction.