BDA SITE ALLOTMENT AT KEMPEGOWDA LAYOUT AND APPROXIMATE PRICES

BDA-SITE ALLOTMENT IN KEMPE GOWDA LAYOUT- PRICES (approximate)                         4-4-2015
         

BDA is all set to invite applications for the allotment of approximately 5000 sites in Kempe Gowda layout within few months and has sent the price proposals to the Government and it is learnt that the prices of the sites might be in the range of

Rs900/- for economically weaker sections and Rs2,500/- for 50 feetX80 feet Site.

a). 20 X 30 feet = Rs 900/sq ft for economically weaker sections. And general category = Rs 1,800/sq ft.

b). 30 X 40 feet = Rs 2,000/sq ft.(Rs24,00,000/- + Stamp Duty at 5.6% + 1% Registration Fee)

c). 40 X 60 feet = Rs 2,250/sq ft. .(Rs454,00,000/- + Stamp Duty at 5.6% + 1% Registration Fee)

d). 50 X 80 feet = Rs 2,500/sq ft. .(Rs1,00,00,000/- + Stamp Duty at 5.6% + 1% Registration Fee)

          The BDA will execute a  lease agreement with a tenure of 10 years and within 2 years of the execution of lease agreement and the possession, the alllottee has to build the residence/house, otherwise, the BDA may cancel the lease as per the conditions of the lease agreement.

THE NEXT LEVEL OF DRAMA WHICH MIGHT UNFOLD SOON

          It is quite natural to fix the price at an abnormally high price and then the politicians and the local XXXXXXX may protest and bring down or reduce the price to a reasonable level.