BDA: 146 unauthorized layouts have sprung up at TG Halli
Dec 21, 2013
Source : The Times of India

 

BANGALORE: The BDA on December 17 informed the Karnataka high court that 146 unauthorized layouts have come up in 23 villages in Tippagondanahalli reservoir zone – III area, 1km on either side of the Arkavathy river.

In a preliminary report, BDA also stated that 3,506 residential and 482 non-residential buildings are located in this area. On a court directive, 23 teams of BDA officials conducted a three-day (December 14-16) physical verification of buildings and prepared this report.

Justice AN Venugopala Gowda observed that the report is sketchy and directed the BDA commissioner to file an affidavit on the action taken. Counsel for BMIC Area Planning Authority informed the court there are 54 non-residential buildings in TGR Zone-III and notices have been issued to 13 of them.

A petitioner’s counsel told the court the actual number of villages is 123. He also complained that those outside the BDA limits hadn’t even counted by the authorities.

The court was also informed there are 707 villages in the entire catchment area. The court sought details of them. The court then suggested the setting up of a special committee under a senior officer, not below the rank of the additional chief secretary, to monitor on a daily basis the follow-up action.

All parties agreed to it and gave their suggestions. The name of V Umesh, additional chief secretary, was suggested to head this panel. The court would pass a formal order regarding the constitution of the special committee on December 18.

Latest Realty News

Panel to monitor action on TG Halli encroachments in Bangalore
Dec 21, 2013
BANGALORE: The Karnataka high court on December 18 constituted a seven-member special committee headed by V Umesh, additional chief secretary, to monitor action on encroachments in Zone-III of Tippagondanahalli reservoir (TGR) catchment area.
Mid-range and budget homes market expands in Bangalore North
Dec 21, 2013
BANGALORE: In the early 2000s, Bangalore north beyond Anandnagar was still largely unexplored. Vast tracts of barren land laden with trees lined the highway leading towards Andhra Pradesh, and the only known landmark in the area was the Devanahalli fort. The relocation of the airport brought the north into focus and over the last five years, residential property development has taken off, with a host of housing options coming up in this region.
India Property raises Rs 74.67 crore in second round of funding
Dec 20, 2013
BANGALORE: Online real estate classified portal India Property Online Pvt Ltd raised $12 million (Rs 74.67 crore) in a second round of funding led by Bertelsmann India Investment along with existing investors Canaan Partners and Mayfield Fund.
Bangalore IT investment region plan hit by rising land price
Dec 20, 2013
BANGALORE: Karnataka's plan to build a new information technology hub close to the new international airport on the outskirts of Bangalore is yet to take off, with slow pace of land acquisition exacerbated by rising land costs.
‘Some steps to revive the market’
Dec 16, 2013
BANGALORE: The State Government last month approved registration of ‘B’ khata certificate (title deeds) buildings constructed on revenue land in the Bruhat Bangalore Mahanagara Palike (BBMP) limits.
Blackstone JV hires ex-JLL head Mike Holland
Dec 16, 2013
BANGALORE: Former Jones Lang LaSalle (JLL) head and entrepreneur Mike Holland is set to become CEO of an equal JV between private equity giant Blackstone and leading office space developer Embassy Group, setting in motion one of India's first real estate investment trusts (REITs) to be listed under regulations that are being framed currently.
GVK plans Bangalore airport city
Dec 15, 2013
BANGALORE: GVK Group, promoter of Bangalore International Airport Ltd (BIAL), is planning to develop real estate around the airport.
Reasons for commercial property investment in Bangalore
Dec 14, 2013
BANGALORE: The city of Bangalore has a large talent pool and is tipped as the knowledge hub of the country with a steady influx of Multinational Corporations (MNCs), Small and Medium Enterprises (SMEs) and start-ups which are the driving force for office space absorption. The political stability in the state is one of the reasons for companies to choose Bangalore as their base.
Impact of Election 2014: Realty sector struggles with labor shortages
Dec 14, 2013
BANGALORE/MUMBAI: The general election of 2014 is expected to exacerbate the labour shortage in the housing sector, putting more stress on builders and delaying further the delivery of nearly 1 million homes across the country, as lakhs of workers head back to villages and towns to exercise their franchise.
Runaway Indian house price boom seen slowing to a jog
Dec 12, 2013
BANGALORE: After years of double-digit growth, house price rises in major Indian cities are expected to slow to just under 8 percent next year as a cooling economy and rising interest rates deter new buyers, a Reuters poll showed.

Latest Realty News Of State

Realty Talk's