BDA hands over 240 flats to Canara Bank

The Bangalore Development Authority (BDA) on Friday made its first bulk allotment of flats to Canara Bank.

After nearly six months of talks and negotiations, 240 flats in Phase 6 of Valagerahalli were allotted to the bank employees. Bank managers handed over a cheque of Rs 101.45 crore to BDA Commissioner Rakesh Singh.

“This is the first bulk allotment done by the BDA. With this, there is hope that more such sales will happen,” said Vinay G Sugur, engineer officer, BDA.

“The BDA is in talks with many other companies and banks, but things are yet to materialise,” said a BDA official. “Discussions were going on for very long because of the pricing with Canara Bank. But the BDA has handed over the flats at the cost of Rs 42 lakh each. This, however, does not include the registration charges and possession of the flats will be given by the end of March, once money is deposited to BDA account and after all procedures are completed.”

All flats under Phase-6 of Volegerahalli come in two bedroom-hall-kitchen configuration. The BDA constructed three blocks, with each comprising 120 flats. Canara Bank has occupied two blocks, and in the third block 30 flats have been sold to individuals.

Flats in Volegerahalli are most sought-after. The BDA has created six phases and all of them have been sold out. Under Phase-5, 415 three BHK flats were constructed and all sold out only recently.