Sites in Shivaram Karanth Layout become costliest that in private layouts

BENGALURU: With the Bangalore Development Authority (BDA) inviting applications for allotment of sites at the Shivaram Karanth Layout, citizens have begun questioning whether the civic body is meant to provide residential sites at affordable prices or whether it has become a real estate agency, given the high prices.

A proposal submitted by the BDA for a sudden increase in prices of residential sites has shocked prospective buyers. The BDA claims that the proposal for hiking prices is from an economic point of view. This move may dash the hopes of poorer families who dream of purchasing sites at affordable prices. If the BDA proposal comes through, the sites at Shivaram Karanth Layout are set to become more expensive than private layouts.

The proposal for increasing prices of sites are as follows

BDA site at Shivaram Karanth Layout is priced at more than Rs 40-50 lakhs depending on dimension.

The proposal to increase the price is from an economic point of view, claims BDA.

The proposed price is Rs 4,900 per square feet or Rs 52,744 per square metre.

The previous price

Rs 2,200-2,400 per square feet

The increase in rates is proposed for 9×2, 12×18, 15×24 sqmt plots.

The major reason for hike in high land price.