Land developers heave a sigh of relief

Land developers heave a sigh of relief

Sharath S. Srivatsa

Master Plan notified four years after approval of provisional plan

BANGALORE: The notification of Master Plan 2021 of the Bangalore International Airport Area Planning Authority (BIAAPA) for a conurbation area of 14,627.63 hectares has given a breather to land developers, especially at a time when real estate industry is reeling under recessionary effect.

The highlight includes opening up of nearly 50 per cent of the conurbation area for residential purposes.

After much delay and arguments in the High Court, the Government recently notified the Master Plan for development of BIAAPA. Developers estimate that investments to a tune of Rs. 4,000 crore had been blocked owing to delay in notification of final plan since plan sanction for projects had been frozen. “Notification of the Master Plan is a step in the right direction, and we expect the Government to be more proactive to help the real estate sector. Crores of rupees of investment by developers had been locked up owing to delay in approving the final plan,” General Secretary of Karnataka Land Developers’ Association R.V. Someshwar told The Hindu.

The BIAAPA jurisdiction covers parts of Yelahanka, Doddaballapur and Devanahalli, and the provisional Master Plan for the conurbation area of 14,627 hectares was approved on September 13, 2004. Following delay in approval of the final master plan, five developers had approached the court stating that their applications for development of layouts had been rejected by BIAAPA on the grounds that the area fell in the agriculture zone under the provisional master plan.

Mr. Someshwar said: “If the final plan had been approved before recession, it would have been easier for developers to market their projects.” Of the conurbation area, 7,284 hectares (49.80 per cent) have been opened up for residential purpose, while industrial development would be in 566.70 hectares (3.87 per cent), leaving 470 hectares (3.23 per cent) for commercial activities. Among others, 731.94 hectares (5 per cent) have been reserved for public and semi-public purposes, 1,841.89 hectares (12.59 per cent) for parks and open spaces, 1,743.98 hectares (11.92 per cent) for airport zone, 1,982.61 hectares (13.55 per cent) for transportation and 5.84 hectares (0.4 per cent) for public utilities.