The Bangalore Development Authority (BDA) has issued a notice to provide Transferable Development Rights (TDR) compensation of ₹1 crore for the Bangalore Palace property, which will be acquired for the widening of prominent roads in the city.
BDA Commissioner Jayaram N. told The Hindu that after the Bruhat Bengaluru Mahanagara Palike (BBMP) calculated the TDR value and completed the formalities, the development authority issued a notice to provide the TDR which is valued at about ₹1 crore.
The notice enclosed with a copy of the TDR certificate was served to the property owners identified by the BBMP. Mr. Jayaram further said the property owners have not received the notice, but the authority has completed its job.
A senior BBMP official said earlier that there was a misconception that the TDR compensation would be ₹1,400 crore. “For about 15 acres and 17.5 guntas needed for widening stretches on Ballari Road and Jayamahal Road, the compensation is calculated at ₹1 crore. The calculation was done based on the Bangalore Palace (Acquisition and Transfer) Act, 1996. The TDR for the palace property is not calculated based on the guidance value. The Act was passed for the sole purpose of acquisition and transfer of the palace property,” the official said.
The official further said under this Act, 472 acres of palace land are worth ₹11 crore and 15 acres are valued at ₹60 lakh, and 1.5 times the sum would come to around ₹1 crore. The officer said as the notice was not received by the legal heirs of the erstwhile Mysore royal family, it will be sent by post.
“In the next hearing at the Supreme Court, we will inform the court that the TDR was issued,” the officer said.
After completion of the process, the BDA will first take possession of the property and then hand over the same to the BBMP for the purpose of road widening.
Published - July 02, 2024 10:24 pm IST
