Affordable finished flats instead of sites to help

Affordable finished flats instead of sites to help
Viajy Times

WITH real estate prices booming in Bangalore, theres good news for many middle and lower middle class families who are not able to to afford a own house.

Having a home will be a reality for them with the Bangalore Development Authority (BDA) going in for economic housing. Single and double bedroom flats will be allotted instead of sites, especially to those applicants who will apply for 20x30 and 30x40 sites.

BDA Commissioner M K Shankarlinge Gowda on Tuesday told BBVVTT that the Authority was formulating a policy, according to which sites of smaller dimensions will be dispensed with. "In order to enable people of lower strata in the City own a house, BDA was focussing on vertical development. Accordingly, we will stop formation of sites of smaller dimensions especially 20x30 and 30x40," he said. SSa avviinngg cco onnsst tr ru ucct tiio onn a am mo ou unnt t: : By concentrating on building flats, we will be able to provide cent per cent value to the money invested by a buyer. "In the present scenario, with real estate prices hitting an all time high, we will offer a finished flat with all amenities at an affordable cost," Gowda said While the single bedroom flat will be of 600 to 650 sq.ft in size, the double bedroom flat will be around 800 to 850 sq.ft. "If one invests around Rs 5 lakh to own a 20x30 site, we will offer a decent house for around the same amount. This will be a great relief on the cost of construction if one has to buy a site alone," he said.

This move will also check the booming real estate price, he added. IInn ppaarrttn neerrs sh hiipp:: According to Gowda, BDA would go in for public-privateparticipation in this initiative, where the Authority will provide the land and share the construction. "There will be no compromise on the quality of construction. Hence, we will not let the builder know which part of the construction belongs to his share," he informed.

The commissioner said, preference for allotment of flats will be given to applicants of 20x30 and 30x40 sites. This move will also fulfil the desire of Chief Minister H D Kumaraswamy in providing affordable houses to people who have been residing in the City for

Bigger sites to cost more

BDA will henceforth sell 50x80 sites only through auction and 60x40 sites would be sold at a fairly higher price. "Those willing to own a site of higher dimension can afford to shell out that kind of a higher price. We should consider the ones who cannot afford such high costs," it said.