Bengaluru development body's flats face potential cost increase
05 Dec 2023
2 Min Read
CW Team
Despite the fact that more than 1,700 flats across 10 distinct projects remain unsold, officials at the Bangalore Development Authority (BDA) have suggested that there may be an increase in their prices. The officials within the agency expressed concerns that such a move could significantly complicate the process of selling these flats.
As per BDA officials, the proposal has been prompted by the state government's upward revision of property guidance values in October of this year. They mentioned that the upcoming BDA meeting, scheduled for the first or second week of December, will deliberate on the proposal to raise flat prices by approximately 10%. However, BDA commissioner N Jayaram asserted that there is no existing proposal within the agency to increase the prices.
According to BDA data, flats have been constructed in various locations, including Kommaghatta, Kaniminike, Doddabanahalli, Valagerahalli, Nagarabhavi, and Konadasapura. While more than 50% of the flats in Nagarabhavi have been sold, there has been a lackluster response from the public in Kaniminike, Kommaghatta, and Konadasapura, where over 50% of the units have found no takers.
A BDA official disclosed that they built 120 3-BHK flats in Nagarabhavi, with 77 of them being successfully sold. Furthermore, the BDA has constructed a total of 2,276 flats across its projects in Kaniminike, Kommaghatta, and Konadasapura, but only 853 of these have been sold. Additionally, more than 200 flats from three other projects remain unsold.
Another official emphasised that individuals interested in purchasing BDA flats should consider booking within the next 10-15 days to avoid the impending price hike.
Despite the fact that more than 1,700 flats across 10 distinct projects remain unsold, officials at the Bangalore Development Authority (BDA) have suggested that there may be an increase in their prices. The officials within the agency expressed concerns that such a move could significantly complicate the process of selling these flats.
As per BDA officials, the proposal has been prompted by the state government's upward revision of property guidance values in October of this year. They mentioned that the upcoming BDA meeting, scheduled for the first or second week of December, will deliberate on the proposal to raise flat prices by approximately 10%. However, BDA commissioner N Jayaram asserted that there is no existing proposal within the agency to increase the prices.
According to BDA data, flats have been constructed in various locations, including Kommaghatta, Kaniminike, Doddabanahalli, Valagerahalli, Nagarabhavi, and Konadasapura. While more than 50% of the flats in Nagarabhavi have been sold, there has been a lackluster response from the public in Kaniminike, Kommaghatta, and Konadasapura, where over 50% of the units have found no takers.
A BDA official disclosed that they built 120 3-BHK flats in Nagarabhavi, with 77 of them being successfully sold. Furthermore, the BDA has constructed a total of 2,276 flats across its projects in Kaniminike, Kommaghatta, and Konadasapura, but only 853 of these have been sold. Additionally, more than 200 flats from three other projects remain unsold.
Another official emphasised that individuals interested in purchasing BDA flats should consider booking within the next 10-15 days to avoid the impending price hike.
Next Story
CRCL, IIT Delhi Sign MoU to Boost Science and Ease of Business
The Central Revenues Control Laboratory (CRCL), Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance, and the Indian Institute of Technology (IIT) Delhi signed a Memorandum of Understanding (MoU) toward trade facilitation and improving the ease of doing business. This MoU collaboration aims to foster R&D, innovation, and scientific excellence at CRCL, bolstering trade facilitation and regulatory efficiency.The MoU was signed by Prof. Rangan Banerjee, Director, IIT Delhi, and Shri V. Suresh, Director, CRCL, in presence of Shri Surjit Bhujabal, Speci..
Next Story
CAQM Sub-Committee Activates 27-Point Plan to Improve NCR Air Quality
The daily average AQI of Delhi has been hovering marginally above 200 threshold with forecast of slight improvement since last two days. Today, Delhi鈥檚 daily average Air Quality Index (AQI) clocked 213 (鈥楶oor鈥� category), as per the daily AQI Bulletin provided by the Central Pollution Control Board (CPCB), owing to variable winds. In wake of the average/ overall air quality of Delhi recording 鈥楶oor鈥� air quality category ranging between 201-300, the CAQM Sub-Committee on GRAP met today to take stock of the current air quality scenario of Delhi-NCR. While comprehensively reviewing the a..
Next Story
DoT Launches Financial Fraud Risk Indicator to Boost Cybersecurity
In a major step towards combating cyber fraud and financial crime, the Department of Telecommunications (DoT) has announced sharing of 鈥淔inancial Fraud Risk Indicator (FRI)鈥� with stakeholders- an output from a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention. This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers.What is the 鈥淔inancial ..
