The State cabinet on Wednesday gave in-principle approval for some innovative techniques to raise funds for infrastructure projects in Bengaluru.
These include compensating land-losers with developed land; premium floor space index/floor area ratio; cess on approval of new layouts; construction and exploitation of commercial spaces near important infrastructure projects; generation of revenue through premium for roads, development tax and betterment tax.
The proposal has been prepared by the Urban Development Department.
Law and Parliamentary Affairs Minister T.B. Jayachandra told presspersons that a major advantage of transport infrastructure projects is appreciation in the value of land and buildings in the vicinity, like in the case of Namma Metro and the Peripheral Ring Road.
