BDA hands over seven complexes to builders for redevelopment

Bengaluru: The BDA has asked Embassy Maverick Malls Pvt Ltd and MFAR Developers to take over seven BDA complexes and develop them.

The Bangalore Development Authority’s (BDA) market division issued the directions, citing state government orders despite objections from residents.

DH reported the BDA’s redevelopment plans on May 5. Several citizen groups, the Aam Aadmi party (AAP), and the Karnataka Rastra Samiti (KRS) have condemned the proposal, saying it is against the BDA's laws and rules.

While a consortium of MFAR Developers, KK Builders, Add Realty Limited and MFAR Constructions Ltd has won the contract to redevelop complexes such as HSR Layout, RT Nagar, Austin Town, Koramangala, Jayanagar and Sadashivanagar, newly formed Embassy Maverick Malls Ltd will redevelop the Indiranagar complex.

In two separate letters, the BDA has asked these companies to go ahead with the work. "Take over the site and complete the work as per the terms and conditions of the concession agreement," the letter stated. 

On Wednesday, BJP leader NR Ramesh said the project has been conceptualised to help the private companies as the BDA land is valued at Rs 15,000 crore, prompting Congress leaders to respond, saying the project was mooted in 2012 when BS Yediyurappa was in power.

"We will get 30 per cent of the revenue from six complexes and 35% from the Indiranagar complex after the re-development work is over. The project is fully funded by the private companies," a BDA official said.

Citizen groups believe the revenue is not worth the land on which re-development is proposed. "It is a civic amenity site. It cannot be used for commercial purposes. The BDA is deviating from the rule. This is illegal. The proposal will be shot down in the high court," a well-informed source said.