BDA housing projects in Bangalore falls flat
The maiden endeavor by the BDA (Bangalore Development Authority) to stand vertical by building apartments for the people below the poverty line, has met with a road block. BDA claimed that the allotted lands are rugged hand require a nip in the bud and has pushed the project towards a downslide.
Earlier in 2007, the state government has forked up nearly 326.18 acres in 17 localities to the Bangalore Development Authority. The allotted acres include 11.11 acres in Uttarahalli for putting to bed housing projects, after the land authority identified the for it. Such housing schemes entail the reservation of 40% of the people below the poverty line, who have been turned out for encroachment. To add to it, this land was a unit of the 7800 acres of government land which was reclaimed from encroachers.
Since, BDA is not allowed to take any donation and the land demands an exquisite sum of money for further growth, the land may be shell out at 25% of the overall guidance value.
Localities for housing projects
Some of the prime areas, among the 17 localities which were allotted with the housing projects include:
· JP Nagar VIII
· Arkavathy
· Banashankari V stage
· HSR
In accordance with the Ashraya Scheme, the Karnataka state government took initiative to build housing for families living below the poverty line in the city. More than 38000 houses have been structured on the revenue land in the city and possession certificates for occupants of over 15000 houses have been declared. The recent issue of craggy land and consistent rise of land rates in rural areas have been a major setback for the project.
BDA Project
According to the project, around 2 lakh houses were estimated to be built on 300 acres in numerous localities of the city. Such houses will be stationed on government land from the encroachers with the aid of the Revenue Department.
According to the Ashraya scheme (name given to the project, by government officials), the middle-income groups were allotted at 1.60 lakh and the remaining will be given to poor class. Such houses will be offered for rent in the coming 20-30 years.
Impact on real estate
Delaying of the project by the BDA will likely impact the real estate in the region. One of the foremost factors to consider is rentals. Delaying of the BDA work will increase the rentals and the poor people will bear the burden.
To add to it, lack of BDA flats will compel poor to look for shelters beyond their budget. However, properties in Bangalore are beyond the reach of the poor. Moreover, such a kind of reluctance on the part of the government builders will help buyers shift their focus to private developers instead of government builders.
