Tuesday, 22 January 2013

BBMP's Large Donation to Maverick

Over the last few days, BBMP and its bulldozers, under the protection of a large and armed police force, have razed about 2000 shelters of the Economically Weaker Section in Ejipura. These actions have been carried out using terrible brute force and in arrogant impunity on the basis of a high court order of Aug. 2012. The Ejipura story is a larger than life greek tragedy unfolding from within realms of India's push for fiscal growth, and its horrific need to hide its all pervasive poverty behind glittering malls - like the one which will arise from the rubble of destroyed homes and lost lives. The photos below are taken by MirnoPasquali

Big Questions that remain: Why a PPP between BBMP and Maverick Pvt Ltd.? Why the diversion of public property, earmarked for our Economically Weak Sections (EWS), to private companies for profiteering? Why the sacrifice of shelters of our poorest, to build Malls of the rich?

Maverick Constructions, via its PPP will get 8 acres of prime property in the heart of Kormangala - one of the poshest localities in the city. According to reports this is valued at anywhere from 200 to 300 crores.
If we take the property cost in Koramangala at Rs.10000/sq.ft (market rate) then 8 acres = 8x40000 sq.ft = 320000sq.ft will cost 320 crores - consistent with the above values.

In exchange Maverick will build 1640 homes of 312 sq.ft each. Even if we adopt a construction cost of Rs.1000/sq.ft (for an average middle class type home) - the entire cost of construction to Maverick is 312x1640x1000=51 crores. So, Maverick Constructions will profit anywhere between Rs. 150 - 250 crores - just by entering into this agreement.

The Govt. claims that it has no money to construct EWS homes, although BBMP's annual budget is more than 4000 crores. Also Bangalore Development Authority (BDA), city's other civic body,  has failed to collect similar sums in rents from its malls, even while earmarking  additional Rs.500 crores more for building new malls.

So..Whose interests does the State really serve? And, how are the EWS displaced families in Ejipura, now on streets, benefited?

No comments:

Post a Comment