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No takers for BDA's 1078 flats as authority fails to provide key facilities
No takers for BDA’s 1078 flats as authority fails to provide key facilities
The impact of the Bangalore Development Authority (BDA)'s neglect in providing road connectivity and other essential infrastructure has left thousands of flats unsold in Kaniminike and residential complex of Kommaghatta.
Bengaluru: The impact of the Bangalore Development Authority (BDA)'s neglect in providing road connectivity and other essential infrastructure has left thousands of flats unsold in Kaniminike and residential complex of Kommaghatta.
Though the Bangalore Development Authority has spent crores of rupees to build apartments, they have neglected in providing basic infrastructure. The residents who have already bought flats are in tears and blame the authorities for the lack of essential facilities.
Moreover, customers are not coming forward to buy unsold flats even though the BDA has cut the price. As a result, around 1078 flats have remained unsold for the past four years. This is causing the BDA to lose more than Rs 200 crore.
Of the 1,500 flats built in Kaniminike, 1,000 remain unsold while 80 out of 1,400 flats in Kommaghatta remain unsold. These areas are on the outskirts of Bengaluru and have no infrastructure. Thus, people are reluctant to buy.
Financial crisis faced by people in the aftermath of the Covid pandemic has also contributed to the dip in sale of residential flats.
Each 2 BHK flats measuing 870 sqft, built at 2, 3 and 4 phase at Kaniminike, 2.5 km from Challaghatta Metro Station, costs Rs 25 lakh and 2 BHK flats of 1050 sq ft is available for Rs 30 lakh.
The 3 BHK flats of 1430 sq.ft are available at Rs 40 lakh, while the 2 BHK flats of 830 sqft near Nice Road Junction at Kommaghatta are available for Rs 25 lakh and the 1060 sqft flats are available for Rs 32 lakh. Whereas, 2 BHK flats of 830 sq.ft located at Doddabanahalli, 4km from ITPL, are available for Rs. 25 lakh and 2 BHK flat of 850 sq.ft at Vallagerahalli costs Rs 44 lakh.
Overall, the BDA has so far built 12,000 homes in 28 locations. Initially, the BDA flat was in huge demand and people were happy to purchase. Recently, however, people have been reluctant to buy, due to lack of amenities on the outskirts of the city.
BDA offers 5-10 percent discount to bulk buyer like organisations, associations, NGOs and office staff. As per the government of Karnataka order, registration fee has been reduced by 3%.
The new projects launched by the BDA have also dented the sales of old flats. For instance, the BDA has started new projects in four areas - Chandra Layout (3 BHK), Konadasapur (2, 3 BHK), Kommaghatta (3 BHK), Hunnigere (1 BHK flat and 3 and 4 BHK villas).
The work is expected to be completed by the end of this year and houses would be ready for sale soon. There is also the question of whether people will come to buy old homes, if they build a new apartment and sell it.
A separate link has been set up for booking flats on the BDA website. Clicking on the link will reveal the authority's housing plans one by one. Each apartment complex contains a description of how many empty flats are available for sale. The interior of a house can also be viewed via video. By clicking on a flat available for sale one will get a glimpse of the area, the estimated cost, and how much you will have to pay in advance.
After booking a house, the customer has to fill in his name, address, Aadhaar number, mobile number, PAN number and other details. Supplementary documents must be uploaded. The flat can be booked in advance, a BDA official said.
PMAY subsidy
The poor and middle class can avail themselves of the subsidy of the Prime Minister's Awas Yojana (PMAY) scheme, which is set up by the central government to facilitate home buying. The sale of flats in Kommaghatta andKaniminike suffered due to the Covid pandemic. BDA president S.R. Vishwanath said that immediate steps will be taken to sell flats by providing essential facilites.
