BDA to build 2 apartments at a cost of Rs 446 crore

The Bangalore Development Authority (BDA) has proposed to construct two apartment complexes — one in the eastern and another in the western part of Bengaluru — at a cost of Rs 446 crore.

Both the projects will be funded by the BDA from its internal resources, it’s learnt. They will likely take off after the Assembly elections.

According to the BDA, a total of 400 flats are planned on the 10-acre land in Konadasapura, off Old Madras Road. The project is estimated to cost Rs 346.51 crore. The second housing project is proposed on a 2-acre recovered land at Valagerahalli, off Mysuru Road, which is expected to cost Rs 99.87 crore. The BDA has planned around 100 flats here.

A BDA official said that the project was cleared by the board meeting and the tender formalities were almost complete. “So far, we have built around 32 apartment complexes comprising a total of 14,000 inventories. A majority of the flats are sold. There has been a problem in selling flats situated at Kommaghatta and Kaniminike. We are addressing the issue by improving connectivity to these buildings,” the official said.

At the moment, the BDA has close to 1,000 unsold flats in different apartment complexes. Poor accessibility, lack of basic amenities and not-so-attractive design are some of the reasons that have resulted in poor demand. While promising the upcoming flats will not face these issues, the authority says the cost of a two-bedroom flat will be less than Rs 40 lakh.

Earlier this week, the State Pre-Tender Scrutiny Committee – headed by Justice Rathnakala – wrote to the BDA, stating it hadn’t obtained administrative approval from the state government before going ahead with the project.

Senior BDA officials said the government’s approval was not required as both the housing projects are funded by the BDA and that Section 15 (2) (i) of the BDA Act allows the authority to carry out new or additional development schemes on its own initiative.

This year, the BDA is expected to launch two nearly-completed apartment complexes, one at Konadasapura (672 units) and the other at Nagarabhavi (120 units).

Last month, the Comptroller and Auditor General (CAG) reported that the BDA’s poor planning and execution of the Kaniminike housing project located near Kengeri had caused a loss of Rs 451 crore to the government. So far, 85 per cent of these flats have remained unsold due to a lack of approach roads.