BENGALURU: The Karnataka Public Work Department (PWD) is planning to earn revenue by monetising its vacant lands by renting, leasing or even selling them. This is the first time that the department is planning such a move.
PWD sources said it has large real estate properties across the state, including Bengaluru and other district headquarters. “PWD Minister Satish Jarkiholi is keen on earning revenue from these plots, which were lying vacant all these years. He said the department is known to be expenditure-only, but it is also capable of earning revenues. That is how the idea of monetising the department’s real estate came up,” they added.
If these properties can be rented or leased to private players to build commercial complexes, set up solar parks or other purposes through joint ventures in places like Bengaluru, Mysuru, Hubballi or Belagavi, revenue can be mobilised, the sources said.
There was also a suggestion to build apartments on these properties, which can be either sold or used as quarters for the staff. “We are exploring the possibilities. All these are at initial stages,” officials said. These projects will be taken up through private builders. “Land will be ours, construction and sale will be theirs. It will be done through joint ventures. This initiative is expected not to have any financial burden on us,” a top official, requesting anonymity, told TNIE.
Suresh Hari from the Confederation of Real Estate Developers Associations of India (CREDAI) Karnataka said it is a good move if it happens. “Nowadays, the availability of land is an issue and even if it is available, it is very expensive. We are already doing it with the Bangalore Development Authority. Since these are government properties, we will be more confident of land deeds,” he added.
He, however, said, “Giving permission or getting sanction from various authorities should be made easy. We look at the scale of operation to be faster. If the government allows single-window clearance, it will be helpful.”Satish Jarkiholi was not available for comment.