Bengaluru Development Authority (BDA) is going to enter the premium real estate market soon. Private builders have been dominated by Bangalore’s premium real estate market for a long time and now they are definitely going to get a tough competition from BDA. Karnataka Deputy Chief Minister DK Shivkumar is engaged in efforts to change the picture of BDA. They want the BDA to change the image of making its low-quality apartments, which do not get buyers. However, this BDA project may face legal hurdles.
Where are the legal obstacles coming in the project
According to the report by Deccan Herald, the BDA rules do not just allow the development of premium or luxury housing projects. According to the existing rules, the BDA should first ensure that a self-finance housing scheme should be built that the project works for all income groups.
How much will the price of premium flat be
To build a premium apartment in Bengaluru, BDA has partnered with 2 private companies- Hombale Construction and Estates Private Limited and Ramalingam Construction Company for 3 new projects. According to the report, in this project with a total of 1485 apartments, the price of flats can be between Rs 1 crore to Rs 1.5 crore. Let us tell you that before this, BDA has so far sold flats ranging from Rs 30 lakh to Rs 70 lakh.
Partner companies are working on which projects
Ramalingam Construction Company has received a contract of Rs 1,237 crore to build 832 flats in Doddathoguru in Electronic City. On the other hand, Hombale Construction has received two contracts. In its first contract, Hombale has to construct 257 flats at Kachchanpura at a cost of Rs 359 crore and to construct 396 flats at a cost of Rs 309 crore in Kalathmamanhalli.
Buyers will get these facilities in apartments
The Bengaluru Development Authority has proposed 3 or 4 BHK flats on five acres of land in Kalathmamanhalli, part of Shivram Karant Layout, which includes facilities like badminton court, squash court, swimming pool, gym, butterfly park and other facilities including club houses. Apart from Kalathmamanhalli, similar facilities have been planned in Doddadathoguru. In Kachchanpura, part of the Campe Gowda layout, the BDA has proposed a roof top swimming pool above one of the two towers. According to the cost of the project, the construction of each flat is estimated to cost between Rs 75 lakh to Rs 1.40 crore.
Latest business news
