New Penalties Replace 10% Levy on Vacant Bengaluru Sites
BENGALURU: The Bangalore Development Authority (BDA) has updated the penalty for owners who do not construct houses within the specified five-year period under lease-cum-sale agreements. Instead of the previous flat rate of 10%, introduced in September 2024, a new tiered penalty system ranging from 2.5% to 10% will be applied based on the size of the site. This change comes in response to feedback from site allottees, who argued that the uniform 10% penalty of the current guidance value for vacant sites was excessive and did not consider the diverse dimensions of sites or individual financial situations. Following these concerns,…
