<p>Bengaluru: Residents of HSR Layout came together on Tuesday to plan their next course of action against the Bangalore Development Authority's decision to privatise the BDA complex, valued in the thousands of crores.</p>.<p>City-based M-FAR Developers has secured a contract from the BDA to build a ground plus eight-floor structure on a five-acre plot with a lease period of 60 years.</p>.<p>Bommanahalli MLA Satish Reddy extended his support to the residents and joined the gathering, where it was decided to pursue legal action against the BDA’s plan.</p>.BDA recovers encroached properties worth Rs 40 cr.<p>The meeting, held at the HSR BDA complex under the banner 'Save BDA Complex-Struggle Committee', opposed the redevelopment, stating that the complex is in good condition.</p>.<p>Residents suspected the possibility of kickbacks worth thousands of crores, given the value of the BDA complex at HSR and Koramangala, which runs over Rs 50,000 per square metre. "Is it logical to give away such valuable property to a private company without any valid reason?" the residents wondered.</p>.<p>Suresh Bhaskaran, a resident, noted that the BDA had spent about Rs 4 crore to renovate the building just four years ago. "After spending so much, selling it to a private company without even considering public opinion seems very insane and insensitive in a democracy,” he said.</p>.<p>Bhaskaran called for the BDA to drop the project immediately, citing that HSR Layout has seen enough commercialisation.</p>
<p>Bengaluru: Residents of HSR Layout came together on Tuesday to plan their next course of action against the Bangalore Development Authority's decision to privatise the BDA complex, valued in the thousands of crores.</p>.<p>City-based M-FAR Developers has secured a contract from the BDA to build a ground plus eight-floor structure on a five-acre plot with a lease period of 60 years.</p>.<p>Bommanahalli MLA Satish Reddy extended his support to the residents and joined the gathering, where it was decided to pursue legal action against the BDA’s plan.</p>.BDA recovers encroached properties worth Rs 40 cr.<p>The meeting, held at the HSR BDA complex under the banner 'Save BDA Complex-Struggle Committee', opposed the redevelopment, stating that the complex is in good condition.</p>.<p>Residents suspected the possibility of kickbacks worth thousands of crores, given the value of the BDA complex at HSR and Koramangala, which runs over Rs 50,000 per square metre. "Is it logical to give away such valuable property to a private company without any valid reason?" the residents wondered.</p>.<p>Suresh Bhaskaran, a resident, noted that the BDA had spent about Rs 4 crore to renovate the building just four years ago. "After spending so much, selling it to a private company without even considering public opinion seems very insane and insensitive in a democracy,” he said.</p>.<p>Bhaskaran called for the BDA to drop the project immediately, citing that HSR Layout has seen enough commercialisation.</p>
