Summary:
By Express News ServiceBENGALURU: Recent collation of data by Bruhat Bengaluru Mahanagara Palike (BBMP) has seen a drop in the issue of plan sanctions for high rise buildings in North and South Bengaluru, but this has had no effect on the revenue generation by the officials. The BBMP has found that while there has been a drop by more than 50% in plan sanctions compared to last year, there has been a revenue increase by the same percentage. Explaining the disparity, a BBMP official said, “There has been a reduction in the applications seeking plan sanction and BBMP issuing commencement certificates and occupancy certificates. This is because of various reasons such as the Real Estate Regulatory Authority (RERA), which has made rules stringent and this has seen builders adhering to a set timeline. “Since BBMP revised its fee collection rules and connected it directly to guidance value, there are no losses,” the official added..