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Bangalore Palace land has been used for widening adjoining roads. | Photo Credit: BHAGYA PRAKASH Entire 472 acres acquired for ₹11 crore, says government; HC allows it to move apex court on the issue The High Court of Karnataka on Wednesday permitted the State government to seek modification of the order from the apex court on utilising Bangalore Palace property for widening Ballari and Jayamahal roads as the government pointed out that a “blunder” has resulted in offering Transferable Development Rights (TDR) worth ₹1,396 crore to occupants of the palace properties as against a total of ₹11 crore compensation fixed for the entire 472 acres of palace property in the 1996 law. ....
Property developers seek GST cut for joint development deals on TDR January 18, 2021 × Currently, GST is paid by the developer on the value of undivided share of land pertaining to unsold area of the project as on the date of receipt of occupancy certificate Developers are seeking relaxation on GST for joint development transactions on Transfer of Development Rights (TDR). They say, the number of projects either residential or commercial has reduced significantly. For residential projects, currently, GST is being paid by the developer on the value of undivided share of land (UDS) pertaining to unsold area of the project as on the date of receipt of occupancy certificate. ....