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Real Estate >> News
Bangalore Development Authority Flats Hit the Roof
By
siliconindia
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Tuesday, July 1, 2014
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25 Lakhs, up from 8 lakhs in 2004: a threefold increase has been observed. The cost is increasing day by day. The decision on this hike prices was taken by a board official. They said that there are several private developers to prevent from swindling provisions that they were taking Karnataka Apartment ownership Act. But present the BDA is cheating the average citizens. This is happening because there are only officials on the ownership board and probably, they have no concern on middle class people or poor. The increase in cost will be a boorish shock for Bangaloreans aspiring for BDA plots.
Why BDA get into this business?
Real estate market is rising in the city, even there is a lack of space. To keep stride with time and to recompense for the space chomp in Bangalore city, the BDA entered the business of construction Apartments/houses, apart from making layouts. The BDA commissioner stated that the space is a big constraint in Bangalore so the BDA decided to build Flats/Apartments and no new layouts for the time being. Under the scheme the BDA invited Applications for the construction of apartments.
The main motto is to transform Bangalore to be an ideal global destination in India with high quality infrastructure, better quality requirements for life by ensuring the sustainable and planned development based on monitoring and innovative approach.
First, the BDA started its project in Nandini layout and worked out the cost to be 5.5 Lakhs per flat. This was worked out by hoping that the agency will get JNNURM funds, but it refused to fund the project. So the BDA had increased the prices. But the government felt that it was expensive and slashed the rate. Finally, they fixed the final cost and this was announced.
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