Karnataka Govt To Auction 12,000 Housing Sites In Bengaluru To Fund Developmental ProjectsUnder construction flats - representative image (PRAKASH SINGH/AFP/Getty Images)

Karnataka would auction 12,000 housing sites in Bengaluru to raise funds, Chief Minister B S Yediyurappa said on Monday (13 April).

"The government will auction 12,000 corner sites lying idle in Bengaluru to raise funds for developmental works in the state," Yediyurappa told reporters after a meeting with ministers and officials concerned here.

Yediyurappa also holds the portfolio of Bengaluru development.

Bracing for hard times in the post-lockdown period, the meeting explored means to mobilise resources for funding the schemes and programmes announced in the state Budget for fiscal 2020-21.

"The state government will also be able to mobilise funds from stamp duty and penalty by regularising unauthorised houses and buildings after a speedy disposal of the cases pending in the High Court and the Supreme Court," said the Chief Minister.

"The meeting also decided to amend the law to allow sale of vacant sites/plots in private and cooperative housing societies across the state for constructing homes or flats and raise funds from their registration fee, including stamp duty," said Yediyurappa.

With inputs from IANS

Tags: 

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement