Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
In the last 15 years, the Belagavi Urban Development Authority (BUDA) has refrained from launching any new residential layouts, resulting in a substantial escalation in land prices across the city. Notably, the Ramtirth Nagar layout was the most recent residential project initiated by BUDA, but it's underwhelming performance has since placed immense pressure on the authority to move forward with the Kanabargi project. With increasing land costs and a growing demand for housing, the forthcoming Kanabargi project is seen as a critical step for BUDA to meet the city's housing needs and alleviate the mounting cost burdens on residents.
In a significant development, the Belagavi Urban Development Authority (BUDA) has taken a critical step towards revitalizing the region's real estate landscape by inviting tenders from consultant firms for the implementation of the highly-anticipated Kanabargi residential project, officially known as scheme number 16. The move, announced recently, marks a significant shift in the city's urban development strategy after a hiatus of 15 years. Advertisement
The decision to kickstart the Kanabargi project was prompted by the soaring land costs in the city, which have reached unprecedented levels due to BUDA's absence in launching new layouts. The last residential project, Ramtirth Nagar layout, received mixed reviews, and the pressure on BUDA to address the increasing demand for residential space has been mounting.
Initially planned to span 159 acres and 23 guntas, the Kanabargi project faced a setback due to ongoing legal disputes with farmers who own approximately 30 acres of the earmarked land. Consequently, it is likely that the project will proceed on the remaining land, further delaying the development of a new layout in the city.
Earlier negotiations between the government and farmers involved a proposed land-sharing ratio of 60:40, which was rejected by the majority of farmers. A revised proposal of 50:50 was introduced, gaining acceptance from most farmers, with the exception of those owning the contentious 30 acres. This group continues to contest the project's implementation, citing their investment in existing structures on the land.
During a recent visit to Belagavi, the Urban Development Minister, Byrathi Suresh, assured citizens that work on the Kanabargi layout project would commence within two months. This pledge has now been substantiated as BUDA has officially floated tenders to enlist the services of consultants for the project.
In addition to the Kanabargi layout project, BUDA has also unveiled plans for a sprawling residential complex spanning 20 acres at Kanabargi. This development aims to cater to the housing needs of the underprivileged and middle-class residents, promising newfound prospects for homeownership in the region.
This story was earlier published by Times of India (TOI)
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
