<p>The high prices of private flats are prompting middle-class buyers to go for apartments being built by the Bangalore Development Authority (BDA) on the outskirts of Bengaluru. But buyers will have to wait longer to get possession of BDA flats.<br /><br /></p>.<p>At a time when thousands of flats in the private sector remain unsold as the middle class finds them too expensive, the BDA’s housing units are in demand. A two-bedroom-hall-kitchen (BHK) flat of the BDA costs around Rs 25 lakh and a three BHK Rs 45 lakh. On the other hand, the average cost of a 2BHK flat by a private builder varies between Rs 50 lakh and Rs one crore and 3BHK flats cost Rs 80 lakh to Rs 1.5 crore.<br /><br />Irshad Ahmed, president of Bangalore Realtors’ Association of India (BRAI), told Deccan Herald that there had been a 60-70% dip in the real estate sector because of the cost factor. It’s the same across India. Though the demand has shifted to 3BHK flats, people are not buying because of the high prices, he said.<br /><br />Another builder, who did not want to be named, said the business was going bad and many flats remained unsold. Builders are coming out with several offers to attract customers, such as free modular kitchen or payment on possession, buy now pay later and equated monthly instalment (EMI) options, he said.<br /><br />N A Afzal, BRAI secretary and proprietor of Home Makers and Realtors, however, said the prices in Bengaluru had not come down as the demand remained the same for the last two years.<br /><br />The oversupply of apartment complexes is another reason for the high number of unsold inventory. Consequently, many builders are now focusing on the middle-income group while the high-income group remains stable.<br /><br />The BDA has notified the construction of 3,280 flats and called for applications from the people. An official said that none of the flats was unsold because of the “affordable” cost. The agency is building 1BHK flats at Vollagerahalli, Malagala, Alige Vaderahalli in RR Nagar and Allur, 2BHK flats at Kommaghatta, Kanminike and Doddabanahalli and 3BHK flats at Vollagerahalli.<br /><br />People will have to wait for three months to apply for BDA flats or sites. Possession will come only after a year as the construction has been delayed, the official said.</p>
<p>The high prices of private flats are prompting middle-class buyers to go for apartments being built by the Bangalore Development Authority (BDA) on the outskirts of Bengaluru. But buyers will have to wait longer to get possession of BDA flats.<br /><br /></p>.<p>At a time when thousands of flats in the private sector remain unsold as the middle class finds them too expensive, the BDA’s housing units are in demand. A two-bedroom-hall-kitchen (BHK) flat of the BDA costs around Rs 25 lakh and a three BHK Rs 45 lakh. On the other hand, the average cost of a 2BHK flat by a private builder varies between Rs 50 lakh and Rs one crore and 3BHK flats cost Rs 80 lakh to Rs 1.5 crore.<br /><br />Irshad Ahmed, president of Bangalore Realtors’ Association of India (BRAI), told Deccan Herald that there had been a 60-70% dip in the real estate sector because of the cost factor. It’s the same across India. Though the demand has shifted to 3BHK flats, people are not buying because of the high prices, he said.<br /><br />Another builder, who did not want to be named, said the business was going bad and many flats remained unsold. Builders are coming out with several offers to attract customers, such as free modular kitchen or payment on possession, buy now pay later and equated monthly instalment (EMI) options, he said.<br /><br />N A Afzal, BRAI secretary and proprietor of Home Makers and Realtors, however, said the prices in Bengaluru had not come down as the demand remained the same for the last two years.<br /><br />The oversupply of apartment complexes is another reason for the high number of unsold inventory. Consequently, many builders are now focusing on the middle-income group while the high-income group remains stable.<br /><br />The BDA has notified the construction of 3,280 flats and called for applications from the people. An official said that none of the flats was unsold because of the “affordable” cost. The agency is building 1BHK flats at Vollagerahalli, Malagala, Alige Vaderahalli in RR Nagar and Allur, 2BHK flats at Kommaghatta, Kanminike and Doddabanahalli and 3BHK flats at Vollagerahalli.<br /><br />People will have to wait for three months to apply for BDA flats or sites. Possession will come only after a year as the construction has been delayed, the official said.</p>