Dream home or castle in the air?

Dream home or castle in the air?
Govt Cautions Against Buying Land Near Devanahalli Airport
The Times of India

Bangalore: As real estate transactions run into crores around Devanahalli — with the Bangalore International Airport taking off — the state government has issued a grim public warning: Buy land only after checking the zoning.

The Bangalore International Airport Area Planning Authority (BIAAPA) has issued a provisional outline development plan (ODP), marking a no-construction zone — Green Area — around the airport site.

“People buying land there are taking a risk. All constructions in the Green Area after the cut-off date of Sept. 13, 2004, will face legal action,’’ metropolitan commissioner A.K. Agarwal told The Times of India.

Thousands of objections have been filed against the provisional ODP, which are being dealt with case by case. “There may be modifications, but the final map will not be very different from the provisional ODP. It is certainly better for people to wait or at least consult us before buying land there,’’ Agarwal said.

With land going at Rs 15 lakh per acre even 8 km from Devanahalli, and a housing site costing Rs 800 to Rs 2,000 per sqft, the warning may be just in time to save hundreds from investing wrongly. For, small-time operators are dealing in land there with no regard for the provisional ODP. “The map is available only to a few. Lots of outsiders have come into the market. The public is not educated on what documents they need to have, they are gullible,’’ said Jackbastian Nazareth of Sobha Developers. Developers admitted that most of the public is not even aware of a Green Area. Many real estate projects are not being officially launched. No one, including state authorities, know how much of the Green Area has already been bought, sold or constructed upon.

Housing layouts are said to be minting money.
There is also a story floated that either side of the highway from Hebbal flyover up to Devanahalli will be full of malls. And the rates have hit the skies.

Why Green Area
To ensure a buffer zone around airport site to accommodate changes in design.
To meet construction restrictions imposed by the Airports Authority of India for free flow of air traffic.
To maintain ecological balance in the area.