BDA to tie up with real estate firms to develop vacant lands

24 May 2021 CW Team

The Bengaluru Development Authority (BDA) is planning to develop some of the vacant lands it owns in Bengaluru by tying up with real estate firms.

An audit conducted by the authority showed that 357 acres of land in 64 residential layouts the BDA has developed over the years are vacant and litigation-free. Technology firm El Technologies has also identified an additional 1,169 acres of BDA land that is vacant.

BDA told the media it would write to the state government seeking consent to develop apartments on some of these vacant lands by partnering with private firms.

So far, the BDA has announced the auctioning of 2,600 sites. The authority has earned about Rs 1,700 crore by selling 1,800 sites. There were seven rounds of auctions regarding the same.

The board of directors have also decided to float global tenders to develop the 65-km peripheral ring road (PRR) project. The authority had earlier planned to take up the project through the Swiss Challenge model, where different firms would get a chance to offer a better deal than the proposal shared by the first party.

As we have reported earlier, an Israeli firm, MAZ, had expressed interest in developing the project by investing around Rs 21,000 crore for land acquisition and construction. According to sources, the firm has sought a toll collection period for 50 years, but the state government wanted the period to be brought down to 30 years.

The Swiss Challenge idea was dropped after it faced strong opposition, with some citing the bad experience the Karnataka government had in constructing the NICE corridor around the city through a similar model. A decision has been taken to float a global tender for the PRR project, confirmed BDA.

Other major decisions taken at the meeting included the construction of a premium township in Konadasapura, approval granted to the annual budget of BDA of Rs 2,252 crore, and others.

Image Source

Also read: Pune, MMR, B’luru top cities for property investment: Report

Also read: India's top 10 most livable cities

The Bengaluru Development Authority (BDA) is planning to develop some of the vacant lands it owns in Bengaluru by tying up with real estate firms. An audit conducted by the authority showed that 357 acres of land in 64 residential layouts the BDA has developed over the years are vacant and litigation-free. Technology firm El Technologies has also identified an additional 1,169 acres of BDA land that is vacant. BDA told the media it would write to the state government seeking consent to develop apartments on some of these vacant lands by partnering with private firms. So far, the BDA has announced the auctioning of 2,600 sites. The authority has earned about Rs 1,700 crore by selling 1,800 sites. There were seven rounds of auctions regarding the same. The board of directors have also decided to float global tenders to develop the 65-km peripheral ring road (PRR) project. The authority had earlier planned to take up the project through the Swiss Challenge model, where different firms would get a chance to offer a better deal than the proposal shared by the first party. As we have reported earlier, an Israeli firm, MAZ, had expressed interest in developing the project by investing around Rs 21,000 crore for land acquisition and construction. According to sources, the firm has sought a toll collection period for 50 years, but the state government wanted the period to be brought down to 30 years. The Swiss Challenge idea was dropped after it faced strong opposition, with some citing the bad experience the Karnataka government had in constructing the NICE corridor around the city through a similar model. A decision has been taken to float a global tender for the PRR project, confirmed BDA. Other major decisions taken at the meeting included the construction of a premium township in Konadasapura, approval granted to the annual budget of BDA of Rs 2,252 crore, and others. Image SourceAlso read: Pune, MMR, B’luru top cities for property investment: Report Also read: India's top 10 most livable cities

Infrastructure Urban

07 Oct 2025

Paras Defence Subsidiary Wins Rs 460 Mn Anti-Drone Order

Paras Defence and Space Technologies (PDST) saw its shares rise 1.5 per cent to Rs 701 after its subsidiary, Paras Anti-Drone Technologies, secured a defence contract from the Ministry of Defence, Government of India, valued at approximately Rs 460.19 million.The order covers the supply of Anti-Drone Systems, including Drone Jammers, marking a significant milestone for Paras Anti-Drone in India’s growing counter-UAV segment. The contract is scheduled for execution by March 2026. According to official filings, the award is from a domestic entity, not a related party transaction, and no promot..

Building Material

07 Oct 2025

Jindal Stainless Launches First Stainless Steel Fabrication Unit in Mumbai

Jindal Stainless, India’s largest stainless steel manufacturer, through its subsidiary Jindal Stainless Steelway (JSSL), has inaugurated its first stainless steel fabrication unit at Washivali, Patalganga, Mumbai. The 4 lakh sq ft facility is designed to serve the bridge sector, fabricating critical components such as girders, arches, nuts, bolts, and handles. The unit was inaugurated by CEO & CFO Tarun Khulbe in the presence of senior leadership.Developed with an initial investment of Rs 1.25 billion, the facility strengthens Jindal Stainless’ position as a provider of end-to-end fabr..

Infrastructure Energy

07 Oct 2025

Hero Future Energies Secures Rs 19.08 Bn for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19,080 million in funding from State Bank of India (lead) and Canara Bank for the development of its 120 MW renewable energy (RE) hybrid project in Kurnool, Andhra Pradesh.The project, contracted with SJVN, integrates wind, solar, and storage technologies to provide reliable peak power. The funding, structured with a 21-year repayment tenure, will support timely project execution and the commencement of commercial operations.This financial closure underscores the banking community’s confidence in ..