There is some good news for those eyeing a site at Nadaprabhu Kempegowda (KG) Layout. Bangalore Development Authority (BDA) has fixed the prices for the sites. Applications for allotting 5,000 sites under the first phase may be called before Dasara, during October second week.
BDA commissioner T Sham Bhat told Deccan Herald that some administrative issues are getting resolved, after which the government and BDA Board will give clearance and applications will be called for. It will happen by second week or end of October. The site prices have also been fixed and approved.
The BDA has finalised Rs 1,800 per square foot (sqft) for a 20x30 site for the general class and Rs 900 per sqft for the economically weaker sections of society. For a 30x40 site, the rate has been fixed at Rs 2,000 per sqft, which is Rs 24 lakh for the whole site. For 40x60 site, it is Rs 2,200 per sqft and the whole plot will cost Rs 48 lakh. For a 50x80 site, the rate is fixed at Rs 2,500 and it is Rs 98 lakh for the whole plot.
This is only the allotment rate. Stamp duty and registration fee will be as per the Stamps and Duty Act, which varies based on the location.
“Applications will be called for developing 5,000 sites in the first phase which is between Mysuru Road and Yeshwantpur, along NICE Road. The layout will be developed in four phases. aApplications for second phase of the layout will be called at a later stage. Under the second phase, around 5,000 more sites will be developed. Under the third phase, apartments will be constructed. BDA aims to create 10,000 flats. Under the fourth phase, commercial spaces including offices, shopping malls and commercial spaces will be created,” another BDA official said.
The official said that in 2014, BDA had decided on a tentative rate list ranging between Rs 1500- 2500. This was later revised and recently finalised. However, rates of apartments and commercial spaces will be fixed later.
‘Eco clearance soon’
With regard to clearance from State-level Environmental Impact Assessment Authority, the official maintained, “We are confident of getting all approvals. Everything will be as per law.”
If all goes well, Kempegowda Layout will be the first the BDA will be developing after the ‘jinxed’ Arkavathi Layout.
Preference will be given to those who had applied for sites in the Arkavathi Layout, but did not get them.