BDA keen to place its bets on flats instead of sites

BDA keen to place its bets on flats instead of sites

The Bangalore Development Authority (BD­A) is keen to construct more flats than creating sites as it thinks building flats is more profitable and safer.

BDA has put forward its plan to construct 10% of the total one lakh flats proposed by the government. In addition to the proposed 10,000 one bedroom-hall-kitchen (one BHK) flats, BDA plans to build more in coordination with other housing agencies like the Karnataka Housing Board.

“We have proposed to construct homes under the central government scheme — ‘House for All’ — where the carpet area will be 328 sqft and built-up area 450 sqft. The idea is to benefit maximum number of people and give them homes at subsidised rates. The proposal is presently before the government for final approval,” said a senior BDA official.

Here 25% of the infrastructural cost will be borne by the Central and state governments and the remaining by BDA. For this, the BDA has already asked the Revenue department to allocate 360 acres in the city.

“We are planning for 14 places and at present, have shortlisted Doddathoguru in Electronics City and Shettigere, Bagalur near the Kempegowda International Airport.

Work on these areas will start soon after the budget. These homes will be built with high quality material and facilities and the prices will start from Rs 7.5 lakh per flat, depending on the area,” the official said.

“As per our assessment, there is a need for one million homes in the city and space is a major constraint, which is why the government is laying a lot of thrust on construction of flats. We hope the subsidy will help sell the flats,” an official said.

The BDA has received lukewarm response for the sale of 3,500 flats. So far only a few hundred applications have been sold under the category without subsidy.

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