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The Government of Karnataka and Bangalore Metro Rail Corporation Limited are exploring ways to offset the heavy economic burden of expanding the metro rail transit network in Bengaluru. Land value capture (LVC) is a public financing strategy that can recover a portion of the real estate value that development along the metro corridor generates for private property owners. Deployed effectively, LVC can help fund the growth of mass transit and allied infrastructure.
Several LVC mechanisms are under consideration in Bengaluru, but are yet to be implemented. Inherent shortcomings in planning, policy, and institutional frameworks prevent the market from optimizing the benefits of transit-oriented development (TOD), which in turn negatively impacts LVC.