Tag: Bengaluru Business Corridor

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HC Permits Bengaluru to Invite Karanth Layout Applications, No Allotments

BENGALURU: The Karnataka High Court has revised its earlier interim order regarding the Dr. K Shivaram Karanth Layout case. The new ruling allows the Bangalore Development Authority (BDA) to invite applications for sites but prohibits any allotments without prior court permission. A special division bench, consisting of Justices M. Nagaprasanna and Venkatesh Naik T, passed this order after reviewing an interlocutory application and an affidavit from BDA that outlined the authority’s financial situation. The Advocate General mentioned that in January 2024, the High Court instructed BDA to maintain the status quo on calling applications for the layout. The authority contended…

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Tax and Stamp Cess for Bengaluru Business Corridor Costs

BENGALURU: The state government will impose a betterment tax and a 1% stamp duty cess on properties near the 117km-long Bengaluru Business Corridor (BBC) to recover project costs. The Bangalore Development Authority (BDA) will oversee the complete construction, with funds collected going towards repaying a Rs 27,000-crore loan from HUDCO. Documents from TOI indicate that the government expects the BBC to elevate land values in the vicinity, therefore, a 1,000-meter impact zone will be established for taxation purposes. “Given that the project’s influence will be more pronounced within the first 500 meters from the road, a betterment levy in accordance…