CREDAI Bengaluru urges govt. to look into TDS, single window clearance

CREDAI Bengaluru urges Karnataka Government to address real estate issues, including TDR revalidation, single-window approvals, and property tax reforms.

CREDAI Bengaluru has requested the Government of Karnataka to urgently consider its recommendations on multiple issues it had placed before it over the last two years, outlining various concerns that developers in the city were facing.

While some issues affecting the real estate sector such as e-khata, premium FAR, bringing in clarity on car-park areas in the property tax, and increasing the allowable height to 4.5m in stilt parking, have received positive responses, there are still other areas that need government intervention, a release said.

“One pressing challenge that remains unresolved is the revalidation sought in respect of the old TDR certificates (Transferable Development Rights) which takes a lot of time to be included in the plan sanction process. CREDAI Bengaluru suggested that old TDR revalidation processes be streamlined. This would involve the elimination of redundant reviews and implementing guidelines for modified sanction plans that mandate TDR purchase before granting Occupancy Certificates. Such measures would ensure efficiency while enabling developers to focus on timely project completion,” said Amar Mysore, President, CREDAI Bengaluru.

“I also urge the authorities to pay attention to the delays caused by the current multiagency approval system for high-rise developments. We suggested the introduction of a single-window mechanism, as outlined under Section 32 of the RERA Act, to consolidate about 10-15 approvals that we otherwise will have to take individually from various departments,” he said.

Another critical issue pertains to height restrictions enforced through NOCs from Jakkur Aerodrome, the release said, adding that the “recreational nature of this private airstrip should exempt developers from such mandates, particularly for projects along the airport road that impact investor perceptions.”

“Property tax reforms related to vacant properties remain a key area of concern for the real estate sector. CREDAI Bengaluru urges the government to reinstate benefits for vacant building taxes, alleviating the financial burden on property owners grappling with vacancies right after the building is completed or when the property is not leased out; this scheme was available to exercise in BBMP prior to the zone classification,” said the release, adding that the issuance of no-due certificates for fully paid taxes should prevent retrospective reassessments, ensuring a fair and stable tax regime.