Realtors Face Demand Threat from BDA Flats

Published on Mar 16, 2013, 07:20 AM IST
BDA Plots
The recent announcement by BDA to allot over 6000 low cost housing units around the city are likely to affect the demand of apartments from private builders.

According to the BDA notification, the government is likely to allot 1 BHK flats priced between 7 to 12 lakhs, 2 BHK flats priced between 14 to 17 lakhs and 3 BHK flats between 23 to 27 lakhs. Whereas private builders charge almost thrice the price for similar configurations.

Moreover, people who buy flats from government agencies can be secure without any title disputes in future. Also, BDA flats and sites are likely to have proper closed drainages, roads, parks and other civic amenities. Flats from BDA are more likely to have high appreciation levels as the cost of purchase is quite low. Customers can expect good quality and hassle free maintenance as BDA has plans to outsource the construction and maintenance to private builders.

The Karnataka Housing Board has proposed to construct over 3000 low cost housing units in different parts of the city like Yelahanka, Devanahalli, Suryanagar and Kengeri.

BDA has invited applications for 4388 single bedroom units, 1170 two bedroom units and 632 three bedroom units. Applications are available from leading Canara bank branches from 25th March.

With such massive expansion plans by BDA and KHB, we certainly find it a big threat to demand of apartments from private builders.

Please beware of fake applications or online downloads from external vendors. Also, make sure you are eligible to apply in the right category, else, your initial deposit will not be refunded for ineligible applications.