Karnataka offers 12,000 prime plots for realty builders
With the coronavirus pandemic triggering a financial crisis, cash-starved Karnataka has decided to auction 12,000 housing sites to generate funds, the state government said in a statement, elaborating that the government will auction corner sites, lying idle in Bengaluru. It has explored ways and means to mobilize resources for funding various schemes, announced in the budget for 2020-21. Apart from this, the state will also be able to mobilize funds from stamp duty and penalty by regularizing unauthorized houses and buildings after a speedy disposal of cases pending in the High court and the Supreme Court. Corner and vacant sites in towns across the state under the State Urban Development Authority will also be auctioned to raise funds for matching post-Covid expenses to restore normalcy.
📅Published on:
18 April 2020
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