BDA will refund deposits to short-listed applicants

BDA will refund deposits to short-listed applicants

The Hindu

All applicants to get the refund by August 15
Refund cheques to 7,500 applicants despatched
The short-listed applicants to be given preference when the layout is formed
Only 100 short-listed applicants have so far applied for refund


BANGALORE: After several months of discussion, Bangalore Development Authority (BDA) has finally decided to return the initial deposit to the 20,000 short-listed applicants. The BDA has decided to return the money to the applicants by August 15. Cheques have been posted to 7,500 persons who had applied for a 20 x 30 site.

The decision was taken because of the prolonged delay over the High Court proceedings over the formation of the Arkavathy Layout.

"We have been thinking about this decision for a long time. It took us some time to consult various departments and get governmental approval," said a BDA official.

The High Court in February quashed the preliminary and final notification for the 20,000 sites that were to be formed over 2,750 acres in 16 villages coming under Yelahanka and K.R. Puram hoblis of Bangalore North taluk and Bangalore East taluk.

Following the High Court ruling, the BDA returned the initial deposit to the 2.5 lakh people who had applied to the site but were not short listed.

Over Rs. 930 crores was returned. Later, it agreed to return the initial deposit to short-listed applicants who asked for their money back.

Several individuals said they had taken a bank loan and even pledged jewellery to pay the initial deposit for the site. With the delay in the allotment, they were facing financial crunches as the BDA offered no interest on the money and as the banks were pressuring them for quick returns.

By and large, the BDA said the response for withdrawal of the deposit by successful applicants was limited. "Not even 100 persons took their money back," the official said. A lot of applicants said they allowed their money to remain with the BDA in the hope of securing a site in the layout in the near future.

"A BDA 30 x 40 site will cost only Rs. 2.26 lakhs while a site in the open market will cost me twice the amount," said Mr. Hanumantha, a short listed applicant. Realising that the High Court decision could take considerably longer, the BDA has now decided to return the money to all allottees.

"We do not want to lock up any of their money any longer," said the official. The official said if the decision on the Arkavathy Layout formation were favourable to the BDA, the short-listed applicants will be invited once again to take up the site. "They will be our first choice," the official said.