With the pouring in of the news, industry experts anticipated better times for the property owners. As per the recent move taken by the BBMP (Bruhat Bangalore Mahanagara Palike), the civic body will soon embark on collecting betterment fees to deliver ‘A’ khata for regularization of sites in the city.
In addition to this much-awaited facility, the BBMP is also contemplating to scare up betterment fees from those property owners who have already built a house on their land, without trampling on any norm. Going by the statement of the BBMP officials, the betterment move will bring to pass a revenue of Rs 200 crore for the Palike, at the same time making it convenient for the people to construct houses and sell sites.
As per market reports, the owners of deputy commissioner-converted properties (properties which are subjected to compliance to town planning laws for layout formation or apartment construction) are suited for ‘A’ khata, in exchange of a stipulated fee. Given the new hike, the Palike will scrape up betterment fee of Rs 200 per sq meter in the 100 old wards and in the leftover 98 wards of the New Bangalore it will collect Rs 250 per sq meter.
The Palike is in talks to mark up the betterment fee by 10% every annum. The site owners will have the privilege of paying the fee in four installments. Owners of ‘B’ khata plots does not designate them for bank loans, on account of the lack of approval from civic agencies such as BDA or any other planning authority. Thus, even a 10% hike will not deter owners from paying the betterment fee, only for the sake of an ‘A’ khata registration.
‘A’ khata for converted bulk land
The Bruhat Bangalore Mahanagara Palike (BBMP) gave a nod for the collection of betterment charges for lands converted through DC two months prior. This recent move of the Palike is expected to benefit only:
- Plots on lands denotified by government agencies.
- Plots with land use conversion clearance but without layout plan approvals from civic agencies like BDA and BMRDA
The BBMP officials have been urged to issue ‘A’ khata for all revenue sites across the city, however, it would violate the Akrama Sakrama scheme, which is likely to come into force very soon. Properties standing on the outskirts of the city are likely to be benefitted by the scheme. However, revenue sites or those which lack conversion clearance will not be able to reap the benefits of this scheme.