The municipality of Bangalore officially became Greater Bangalore
or Bruhat Bangalore Mahanagar Palike (BBMP). The new municipal
body has been formed with the dissolution of erstwhile BMP,
City Municipal Councils and Town Municipal Councils by a final
notification issued by the state government on 16 January,
The BBMP is currently headed by an administrator and a commissioner.
The delimitation process is underway and once it is completed,
government will notify the reservation roster prepared by
the State Election Commission for holding civic elections.
Greater Bangalore is divided into 8 zones. The number of
wards will increase from 100 to 150. Greater Bangalore is
now a single monolith entity comprising BMP city areas, the
7 CMCs, 1 TMC along with 111 villages under various Gram Panchayats.
Among the parameters for choosing the villages were population
of the area being not less than 3 lakhs. Also, the revenue
generated for local administration from tax and non tax sources
in the year of the last preceding census being not less than
Rs. six crore per annum.
The formation of Greater Bangalore or BBMP has given a fillip
to the Bangalore
real estate market. The land prices have soared in the
villages and the urban local bodies. There has been an increase
of 20% over the last one year. The stamps and registration
department are developing a guidance value which will be published
The highlights of Greater Bangalore with redrawn contours
- Greater Bangalore can boast of an area of 741 sq km.
This is a massive increase from the BMP area of 225 sq km.
- 110 villages have been embraced in Bangalore urban district
with more than 30% development with an area of 223.03 sq
- The seven CMCs that have been merged constitute 257.97
- BMP limits extend up to 226 sq km.
The move behind the formation of Greater Bangalore will have
a healthy effect on infrastructure and will iron out some
severe development and civic issues that Bangalore is facing
now. Some of the motives had their roots in the scenario in
the recent past as described below:
Though soft interest rates and tax incentives on home loans
and the general growth mode of the economy had been driving
the real estate boom in Bangalore, there were issues that
needed to be worked on. The current traffic problem inside
the city was mainly attributed to the poor planning of IT
corridors. All the roads that led to these areas became clogged.
These corridors are being developed in remote suburban areas
of the city primarily with the aim of growth. However, there
is a dearth of housing development projects near these areas.
The failure to match the inflow of migrating population fuelled
by the IT growth had created a huge shortage of supply of
land. Due to empathy of the government and trends promoting
capital appreciation, land property prices in Bangalore is
skyrocketing. Some buyers have a tendency to book more number
of apartments than they need as investment property. Besides,
having scope of high rental income, taking advantage of the
spiraling prices, they went about selling each one off subsequently
and getting the last one at virtually free of cost.
Why Invest in Greater Bangalore Real Estate?
Greater Bangalore will have a seamless, effective and well-coordinated
management structure with administrative structures and legal
framework that have undergone scrutiny. Greater administrative
capacity will make for better enforcement of rules and regulations.
The congestion in Bangalore with the increase of residential
and commercial spaces has encouraged new and existing MNCs
and corporates in Bangalore to shift bases to Greater Bangalore.
The Ministry of Urban Development, Government of India has
been working on the elements of the National Urban Renewal
Mission (NURM) programme in order to formulate long-term reforms
at both state and city levels and implementation programmes
to support and sustain the reforms in the medium term.
The services of Urban First Systems Private Limited, a Chennai-based
consultant has also been hired to prepare the City Development
Strategy Plan (CDSP) document that seeks to identify the infrastructure
gaps and investment plans over the next 5-7 years.
The reforms already in place in Bangalore
are Repeal of Urban Land Ceiling Act, programmed reduction
of stamp duty and property tax reforms. The new efforts directed
towards land use and zoning in Greater Bangalore with focus
on infrastructure planning, this augurs well for the Greater
Bangalore real estate.
Many of the sectors in Bangalore has infrastructure gap which
has been assessed in the wake of rapid economic and demographic
growth include road network, urban transport, and environment
management and information infrastructure. Greater Bangalore
will improve and coordinate infrastructure development for
growth and service delivery system. Moreover, Greater Bangalore
promises to have an upgraded system of urban civic services
and can therefore be favorable for real estate investments.
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