BDA Slaps Rs 1 Crore Fines on Bengaluru Vacant Plot Owners

• BDA introduces strict new rules for vacant plots in Bengaluru, with fines reaching up to Rs 1 crore.
• Plot owners face a 10% fine of the guideline value if construction is not started within three years.
• Sale deeds will be withheld until construction is completed, with the rule effective from August 19, 2024.
• A 25% penalty on transaction value will be levied for unauthorized sale of BDA plots.
• The new policy aims to curb illegal transfers, prevent speculative misuse, and ensure proper development of allotted land.

Why It Matters: Bengaluru property owners face massive fines for vacant plots and illegal sales.