With the BDA increasing the prices by 200-600% in the projected Nadaprabhu Kempe Gowda Layout, the dream of owning a Bangalore Development Authority (BDA) site of many remain a fantasy.
A 30x40 site in the layout, which was Rs.7.5 lakh in 2004 in Arkavathy Layout, off Bellary Road now may cost approximately Rs.23 lakh, which it is a three-fold upsurge. And, if you are willing to own a 50x80 site then one may have to dole out some money of closely Rs.1 Crore which then was of Rs.15 Lakh and is nearly seven times more.
One of the BDA officials says that the Bangalore Development Authority (BDA) has planned to fix the price from Rs.1,750 to Rs.1,900 sq. ft. for a 30x40 site and for a 50x80 site to price somewhere between Rs.2,200 and Rs.2,400 in Kempe Gowda Layout. This rise in prices would be a startling shock for people who aspire to buy BDA plots. Most of the people who will buy these BDA sites would be trying from closely two decades.
BDA guidelines states that while allotting sites major preference will be given to senior citizen as BDA has planned to allot only 5,000 sites in the first phase and buyers who would have tried at least 5 times would fit for allotment.
It is also said that among the 5,000 sites half of the sites would be allotted to general category people and the remaining would be allotted to ex-servicemen, SC/STs, senior citizens, and other categories.
BDA invited application in March for Kempe Gowda Layout, which would be its first allotments in 10 years.
One of the BDA officials says that BDA price is less when compared to the market price in the area. A 30x40 site off Magadi Road, close to Kempe Gowda Layout is priced between Rs.3,000 and Rs.4,000 per sq. ft. And, middle-class people who are salaried will not get in such a less price in these areas. He also added that in area like Magadi Road a 2 BHK flat of 1, 200 sq. ft. is priced at Rs.30 to Rs.35 Lakh and a 3-BHK flat of 1,800 sq. ft. is sold at Rs.40 to 45 Lakh.
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