Karnataka Government announces that Bangalore upcoming properties need not allot 10% lung space as vacant space, instead the builders have to pay the guidance value of the 10% space to the BBMP as additional fees. The BBMP will use the funds to create green atmosphere in the city and develop parks at the cost of buyers flats lung space.
Builders and property developers are happy after the announcemnet as they can sell the 10% space at a higher price than the guideline value.
Builders and property developers are happy after the announcemnet as they can sell the 10% space at a higher price than the guideline value.
