Bangalore: It is back to realty buzz after a ninemonth lull. With the state government lifting the ban on land conversion and layout approval in the BMRDA areas on April 28, developers are a happy lot.

Around 250 projects were stuck because of the ban — integrated townships, private layouts, apartments, industrial projects — as the land conversion was stopped.

The developers had contended that housing industry had almost come to a grinding halt since financial institutions were reluctant to extend the loans without conversion order and necessary approvals. “Though, there was a fourmonth delay in approving the interim master plan, we are relieved that the biggest issue faced by KTDA members has come to an end. The townships we develop cater to the middle-income group and also there is great demand due to the reasonable prices and affordability,’’ said Roy C J, general secretary, Karnataka Township Developers Association.

However, union government had ordered extending the benefit of total exemption of income tax to the builders if the projects were approved by BMRDA within March 31. The developers had come to the consensus of passing this benefit to prospective buyers. With delayed sanctions, the buyers stand to lose the sop.