Bangalore Development Authority (BDA) which shifted its focus from sites to apartments, is facing problems again. For, there are very few takers for its single bedroom houses.
The BDA built 7,000 one-BHK (bedroom-hall-kitchen) units in 17 locations of Bangalore and 4,200 of them have been notified. According to BDA officials, not many are coming forward to take them. Even those who have purchased the houses want to rent them out to bachelors or working professionals. Furthermore, there is an increase in demand for two and three bedroom houses.
Speaking to Deccan Herald, Technical Assistant (4) for BDA Housing project, N G Gowdaiah said, “There are very few takers for one-BHK houses. Nuclear families also prefer two-BHK or three-BHK units. Though the cost of a single bedroom house is less, there are not many takers. This is affecting sales.”
BDA is now worried of losses. It is also mulling dropping the idea of constructing any more one-BHK houses at upcoming construction sites. It wants to focus on two and three BHKs. The cost of one-BHK house in a BDA block is Rs 8.2 lakh, two-BHK houses costs Rs 17 lakh and a three-BHK one costs Rs 27 lakh.
Gowdaiah added that is was not only BDA which is seeing a problem in selling single bedroom houses, but even realtors.
Nation-wide scenario
Housing and Urban Development Corporation Limited (HUDCO) chairman V P Baligar said that single bedroom dwellings are taking a nationwide beating.
On one hand where the 2012, nation-wide assessment shows that there is a shortage of 18.7 million homes across India, of which 1.8 million is in Karnataka and 55 per cent of this are single bedroom houses. On the other, even the ones which are being constructed are not being occupied.
Another HUDCO official, said that there are homes available for the weaker sections of society, but they do not want to occupy them because of varied reasons. This is creating an imbalance in the market.
Realtors also point that this is affecting the real estate sector to a large extent. Bangalore Realtors’ Association India (BRA-I) secretary Ayub Khan pointed that there are no more single bedroom houses in the central business district for want of demand.
“This trend for one-BHK houses is seen mainly in Mumbai and Chennai. In Bangalore, there are very few and that too on the City outskirts. One bedroom houses are now seen mainly on City outskirts. These houses are usually being rented out to working men and women, mostly from IT companies.”