All posts by Vidyadhar Naik

Property Consultant I Founder Bangalore Real Estates I Member BRAI I Expert-Times of India Group I Blogger on Bangalore Real Estate Market Trends I

Bangalore CDP

Bangalore CDP

Bangalore City

Bangalore CDP  Plan Implementation:

Let me explain in brief about CDP .

What is CDP ?

CDP means Comprehensive Development Plan.  This plan includes various factors of present and future growth of a city keeping in mind city’s natural environment and heritage. As per  Karnataka Town and Country planning Act 1961,section 25 CDP should be revised every 10 years. The first CDP plan was made in 1984. Let us not get into details of subsequent CDP plan made/revised for Bangalore city. Let me directly to Jump to  Bangalore CDP plan.

Bangalore CDP Bangalore Development authority is entrusted  to prepare CDP 2031.

As per BMR (Bangalore Metropolitan Region) following are the authorized civic agencies .

Bangalore CDP
Bangalore CDP

Let me also explain about BMRDA. Bangalore Metropolitan Region Development Authority (BMRDA) is an autonomous body created by the Government of Karnataka under the BMRDA Act 1985 for the purpose of planning, co-coordinating and supervising the proper and orderly development of the areas within the Bangalore Metropolitan Region (BMR) which comprises Bangalore urban district, Bangalore rural district and Ramanagara district.

As per the Structure Plan, apart from BMA (BDA jurisdiction), the rest of the Bangalore Metropolitan Region [BMR] is divided in to five Area Planning Zones (APZ’s) and six Interstitial are proposed along the corridors, which are (1) Bangalore-Bidadi (2) Bangalore-Nelamangala (3) Bangalore-Devanahalli (4) Bangalore- Whitefield, Hoskote (5) Bangalore-Anekal, Sarjapur-Hosur.

The Area Planning Zones (APZ’s) are areas  where urban development is permitted subject to certain regulations.  The Interstitial Zones are the areas lying between APZ’s where urban activities are restricted giving more emphasis to environmental – issues like conservation of forest area, agriculture etc.

Till now the CDP plan was taking care mainly on  change of land use and zoning regulations. Of course this is very  much core area of CDP. We have seen many illegal residential layout built on Agricultural land and also industries. CDP will clearly define which are residential /industrial/green belt areas.

Now  CDP should clearly define and correlate its plan to various government departments like Electricity, Water supply, Telecommunication, Sewage and Drainage. Infrastructure. Industries  and also Forest etc.

Growing population, increasing vehicles, pollution and existing high density area of Central Business district are to be addressed from all angles. CDP does not mean plan for growing areas but also for unstructured developed areas of the city.

But City needs one short term CDP  /Emergency/Contingency plan to address immediate problems of public in 2014 itself. One should wait and see how ancillary use in residential areas will be handled by government. What are the hurdles BDA will have in Bangalore CDP  2031 process and implementation from legal point of view? What will be the role of MPC? (Metro Politan committee). How active participation of various citizen groups will help and guide through its think tank?

I conclude saying how Bangalore CDP 2031 will address all issues in 8005 square kilometer area, only coming days will throw the picture on this.

LOCAL SPACE

By: Vidyadhar Naik-Property Consultant

Reference: BMRDA.

Real Estate Investment

Real Estate Investment

Despite of India’s poor inflation control in the years 2012 and 2013 and overall slow down in the global business sectors still Bangalore Real Estate Investment has lot of potential in India. Central Statics offices data clearly indicate bad inflation control which is official publisher of Government of India.

I list following factors to explain why Bangalore Right Place for Real Estate Investment in India.

1 NRI investment has increased significantly in buying new properties for self use who would plan to return to India. Reinvestment from NRI from the property sold to save tax on capital gain. NRI who have considerable assured regular local income are investing in new properties.This section belongs to Top level IT professionals who are outside India from the last 10-15 years. This may not hold good for other cities like Mumbai or Delhi.

2 Increasing price over a period of time has forced first time property buyers to go for it as early as possible. Fear factor of Price making salaried employees to purchase at the earliest.

3 There has been no decline in recruiting new employees either in IT or IT enabled services. Still Bangalore is the number one IT/ITES outsourcing destination in the global market place.

4 India is likely to witness the second highest demand for office space in 2014 among the top 30 cities in the Asia-Pacific region, according to a report by property consultancy Cushman & Wakefield, which says Bangalore is expected to be the biggest market in the country due to the expansion of IT, ITeS and multinational companies. This is clear indication of new employment opportunities.

5 Travelling time likely to cut down by 40% by 2015 to any part of Bangalore from CBD or Residential areas to work places/business places. This is due to Metro and completion of all roads like inner ring road, outer ring road ,Feeders to metro junctions and to NICE road.

6 Bangalore’s cosmopolitan culture blended with its own traditional culture gives space to everybody to live in harmony.

7 Whether you are from Northern or Southern part of India , all dreaming to have property investment in Bangalore.

You may like : http://bangalore-realestates.blogspot.in/2014/01/bangalore-cdp-challenging-one-for-bda.html

LOCAL SPACE

By Vidyadhar Naik-Property Consultant

Residential Plots in Bangalore

Residential Plots in Bangalore

Huge demand for residential plots in Bangalore along with flats and availability of the same improving a lot. The demand and supply tending towards equilibrium. Time since Government of Karnataka tried to make Urban development structured one, the demand for residential plots in Bangalore also increased . I would like to list how residential plots in Bangalore opportunity is being created and complications involved in the same. Which plot is right one to buy?

Following factors contribute for formation of new residential plots in Bangalore.

1 Increasing population.

The city’s population stands at 95,88,910 as of now, according to  Census 2011 data released here . One of the most attractive employment destinations in the country over the last decade or so, Bangalore’s population has grown by 46.68 per cent, between 2001 and 2011, up by nearly 12 percentage points over the growth rate of 35 per cent in the previous decade.

2 Bangalore is Information and Technology Hub of the country.

Bangalore including Mysore, Mangalore and Hubli contributes 40% of Total IT Exports. Around 3.5 lakhs IT professional are working in Bangalore. Average salary drawn by IT professional(4-8 years experience) is between 8 – 16 lakhs depending upon organization. Average productivity in Company like TCS is 47000US$/person. This is much higher in companies like IBM and Accenture due to their services in cutting edge technologies. Around 55-60% is spent on salary component. This gives clear picture of property buying index for IT professional is much higher compared to others.

3 BDA unable to form time bound new Residential plots in Bangalore quantitatively.

4 Extension of BMRDA jurisdiction paved way for private developers to form new  residential lay outs which are BMRDA approved.

5 Completion of Outer ring Road, Nice Road corridor, Metro and Completion of Kempegowda International Airport Road, Emerging Neo Bangalore near Hoskote, Fresh Tender Call for Bangalore-Bidadi Infrastructure corridor.

6 Formation of Andhra and Telangana would create huge investment opportunity towards north Bangalore and demand for residential plots which are DTCP approved.

7 Financial Institutional provide loan for buying these sites with certain terms and conditions.

Misguiding Factors for common buyer in purchasing residential plots in Bangalore

1 Common buyer can not do much on the following .

a)      Karnataka Town and Country Planning Act 1961

b)      Karnataka Land Reforms Act 1961

c)       Karnataka Revenue Land Act 1964

Loop holes of these laws give opportunity for  private developers to use intelligently in formation of residential layouts which are illegal by process and act. Such layouts carry only endorsements by concerned authorities.

Right Plot to buy

1 BDA approved

2 BMRDA/BIAAPA/BMICPA approved ( Only Released sites)

3 DTCP approved(Only Released sites)

4 NOC issued by local planning authority for formation of residential plots in Bangalore and also mentioning that there will not be any future acquisition of land by authorities.

5 If you are buying plots within BBMP jurisdiction I suggest to hire services of professional Lawyer who has expertise in property domain. BBMP limit sites include many revenue and Grama thana sites. Akrama and Sakrama applicable sites with buildings on it.

6 Karnataka housing Board developed sites/flats.

LOCAL SPACE

By Vidyadhar Naik-Property Consultant