BUDA Initiates Kanabargi Residential Project
Real Estate

BUDA Initiates Kanabargi Residential Project

The Belagavi Urban Development Authority (BUDA) has initiated the process of seeking consultant firms to execute the Kanabargi residential project (scheme no.16). If all proceeds as planned, applications for the sites are set to be invited from the public in February 2024.

BUDA has not introduced a new layout in the past 15 years, leading to a substantial increase in land costs within the city. The Ramtirth Nagar layout was BUDA's previous residential project, and its underperformance has exerted significant pressure on BUDA to advance the Kanabargi project.

Initially intended for development over 159 acres and 23 ?guntas?, the project may now proceed on the remaining land due to legal disputes with farmers occupying about 30 acres. This has contributed to BUDA's delay in launching a new layout in the city.

Previously, the government had proposed a 60:40 land-sharing ratio with farmers, which was rejected. A subsequent proposal for a 50:50 ratio found acceptance among most farmers, except those who own 30 acres. These farmers are still in legal battles to protect their land, particularly because some have already built structures on it. Under the agreement, BUDA is obligated to provide 50% of developed sites to the farmers who relinquished their land.

During a recent visit to Belagavi, the Urban Development Minister, Byrathi Suresh, indicated that work on the Kanabargi layout project would commence within two months. Accordingly, BUDA has initiated the tendering process. BUDA Commissioner Shakeel Ahmed stated, "We have already issued tenders, and if all goes according to plan, site marking work will commence within two months."

Additionally, BUDA has outlined plans for a 20-acre residential building complex within Kanabargi to address the housing needs of the lower and middle-income segments. As confirmed by BUDA Commissioner Shakeel Ahmed, this project will kick off once the Kanabargi layout project is underway.

The Belagavi Urban Development Authority (BUDA) has initiated the process of seeking consultant firms to execute the Kanabargi residential project (scheme no.16). If all proceeds as planned, applications for the sites are set to be invited from the public in February 2024. BUDA has not introduced a new layout in the past 15 years, leading to a substantial increase in land costs within the city. The Ramtirth Nagar layout was BUDA's previous residential project, and its underperformance has exerted significant pressure on BUDA to advance the Kanabargi project. Initially intended for development over 159 acres and 23 ?guntas?, the project may now proceed on the remaining land due to legal disputes with farmers occupying about 30 acres. This has contributed to BUDA's delay in launching a new layout in the city. Previously, the government had proposed a 60:40 land-sharing ratio with farmers, which was rejected. A subsequent proposal for a 50:50 ratio found acceptance among most farmers, except those who own 30 acres. These farmers are still in legal battles to protect their land, particularly because some have already built structures on it. Under the agreement, BUDA is obligated to provide 50% of developed sites to the farmers who relinquished their land. During a recent visit to Belagavi, the Urban Development Minister, Byrathi Suresh, indicated that work on the Kanabargi layout project would commence within two months. Accordingly, BUDA has initiated the tendering process. BUDA Commissioner Shakeel Ahmed stated, We have already issued tenders, and if all goes according to plan, site marking work will commence within two months. Additionally, BUDA has outlined plans for a 20-acre residential building complex within Kanabargi to address the housing needs of the lower and middle-income segments. As confirmed by BUDA Commissioner Shakeel Ahmed, this project will kick off once the Kanabargi layout project is underway.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Capacit'e Infraprojects Q1 Revenue Rises 7% to Rs 6.29 Billion

Capacit'e Infraprojects reported a 7% year-on-year increase in consolidated revenue from operations to Rs 6.29 billion in Q1 FY27, compared with Rs 5.89 billion in Q1 FY26.The company said revenue growth during the quarter was affected by a shortage of workmen during the first half of the period.EBITDA stood at Rs 0.99 billion, down 3% from Rs 1.02 billion in Q1 FY26, while EBITDA margin moderated to 15.7% from 17.2%. EBIT declined 8% to Rs 0.80 billion, with an EBIT margin of 12.5%.Profit after tax stood at Rs 0.40 billion compared with Rs 0.47 billion in the corresponding quarter of the prev..

Next Story
Infrastructure Urban

GHR Infra Launches Freedom Offer at GHR Callisto

GHR Infra has launched the ‘Freedom Offer’ at GHR Callisto, its IGBC Green Homes Pre-certified Gold-rated residential project in Kollur, Hyderabad.The offer applies to select 2 and 2.5 BHK homes starting at Rs 83 lakh. Buyers will receive a complimentary IKEA modular kitchen along with a choice between EV parking provision and two years of common area maintenance.Eligible homes can also be booked with a 10% down payment, aimed at reducing some of the immediate expenses associated with purchasing and setting up a new home.Spread across 8.3 acres with nearly 70% open space, GHR Callisto comp..

Next Story
Infrastructure Urban

TVS ILP Launches 'Invisible Backbone' Brand Film

TVS Industrial & Logistics Parks (TVS ILP) has launched a new corporate film titled Invisible Backbone as part of its 21st anniversary celebrations.The film traces the company’s journey while highlighting the role of warehousing and logistics infrastructure in supporting manufacturing, supply chains and India’s economic growth.It showcases the integrated ecosystem behind the movement of products from warehouses to consumers, covering industrial facilities, technology, logistics networks and people. The film also reflects TVS ILP’s focus on operational excellence, customer-centricity,..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement