BDA reintroduces 10-yr lease on all allotments

BDA reintroduces 10-yr lease on all allotments
Deccan Herald

The Bangalore Development Authority (BDA) has reintroduced the 10-year lease-cum-sale rule on all allotments made by it with immediate effect.

The BDA stated on Friday that the government has issued an amendment to BDA Allotment of Sites, Rules 1984 in an order issued on April 27, 2005.

The allottee should execute the lease-cum-sale agreement within 60 days of receiving the allotment notice from BDA and a fixed amount of rent has to be paid to BDA by the allottee ranging from Rs 5 to Rs 20 during the lease period per annum, the release said.