BENGALURU: The Bangalore Development Authority has launched an audit of all its properties to tap undiscovered sources of income even as poor revenue generation has forced the agency to make major cuts in its budget.
The designated city planner is under pressure to find funds for infrastructure projects the state is keen to take up -a steel bridge from the Basaveshwara Circle to Hebbal estimated to cost Rs 1,800 crore, a six-lane flyover at the KR Puram junction pegged at Rs 630 crore and improvements at Silk Board for which BDA will pitch in Rs 100 crore.
The agency could not muster even half of its projected revenue in 2015-16, resulting in capital and revenue expenditure being slashed by Rs 479.58 crore. Besides cuts in its ongoing housing projects, the BDA ‘s revised budget estimate for 2015-16 has reduced allocation for the Peripheral Ring Road project, rejuvenation of lakes and JnNURM projects. “We have many unsold corner sites. There are civic amenity sites and relinquished lands that we have not leveraged. Then there are encroachments that have not been cleared,” BDA chairman Mahendra Jain said. “The audit will help identify them all, whose proceeds will be used for our projects.”
Due to finish in about a month, the land audit would look into dues from leases of civic amenity sites and commercial spaces that the agency has ignored.”The audit will reveal everything, right from how many properties we really own,” BDA finance member NH Kandari said. The BDA realised site sales of Rs 173.52 crore as against the expected Rs 425 crore from the Nadaprabhu Kempegowda Layout. There was no sale of commercial sites at Konadasapura, where it expected Rs 150 crore. “In 2016-17, BDA estimates to collect Rs 1,277 crore from site sales at Kempegowda Layout. But going by last year’s experience, BDA might end up realising only Rs 522 crore,” said Srikanth Viswanathan, coordinator of advocacy and reforms at Janaagraha, an urban governance non-profit.
Credits ET Realty