The Bangalore Development Authority has plans to come up with 13,100 apartments at economically reasonable prices at various locations in Bangalore to cater to the needs of the society and the plans are afloat. The present allotment of 3280 apartments has already created ripples among the builders community.
This proposal may hit the builders hard as the location and construction MIGHT be on part with the builders and the prices are naturally much lesser. The only concern is that the construction QUALITY must be competitively good.
This is a major blow to all the mid sized apartment builders as they are reeling under severe financial crunch due to unsold inventory.
The titles of the apartments might be better off than the private builders and the compliance to the statutory norms will be followed by the BDA.
We, hope that the quality of construction will be good and it will be delivered on time to the midsegment of the society at reasonable prices.
A NEWS REPORT: