The word ‘lake’ usually triggers images of blue, tranquil waters and a gentle breeze blowing over. In Bangalore, however, the recent demolition drive to clear structures built on lake land has caused quite a stir. While there have been clarifications by the authorities that legally constructed structures will not be demolished, the situation on the ground seems to suggest not all is well.
At the root of the angst, supposedly, is the corrupt practice of Bangalore Development Authority officers, who gave permission for construction on the land. And as with all such exercises, the hapless ignorant, along with the informed violators and encroachers, get meted out the same fate — demolition of their homes.
The drive to recover lake land by the authorities seems like a good and much required move. What is taking away from the exercise is the fact that some honest residents are being adversely affected by the move. How they will be compensated, if at all, remains a question only time will answer.
What the issue highlights, though, is the folly of not doing adequate homework when buying homes in areas that are in or close to regions protected for ecological or other reasons — lakes, sea fronts, forests, national parks, beaches, bird sanctuaries, historical sites and so on.
One hopes that with greater regulation of the real estate sector, as is being proposed, some of these issues will be addressed. Till then, tread carefully.
Former Editor, Outlook Business and Executive Editor, NDTV Profit, the writer is a personal finance expert. Mail him at propertyplus@thehindu.co.in
