BENGALURU: Within one year of commencement of sale, all 120 3BHK flats of the Bangalore Development Authority (BDA), the priciest ones to date priced at over Rs one crore, have been sold out.
Billed `Nagarbhavi Flats', its prime location at the entrance of Chandra Layout in Nagarbhavi and proximity to the metro network and the outer ring road are cited as the key reasons for the demand.
A top official told TNIE, "We made the sale of the last flat on Saturday (August 10). This is the first time in our history that we are selling flats above Rs One crore. The response has been terrific. More than 20 of the 120 flats have been purchased by judges and advocates."
The flats are located in one ten-floored tower with 12 flats on each floor. The Rs 54.75-crore project was completed in August 2023 and the sale of flats began immediately.
"With the Nayandahalli Metro station just one km away and the outer ring road in its vicinity, connectivity serves as its biggest plus point. Three parks nearby and the Durga Parameshwari temple too proved to be big draws," he said.
Amenities like an in-house gym and roads within the apartment are offered. The base price for the flat is Rs 1.04 crore with an additional Rs 2.5 lakh charged for car parking.
"This base price applies to flats up to the fifth floor. Beyond that, flats are levied an additional fee for the view of the City it offers. The maximum cost of a flat is Rs 1.15 crore," another official said.
Flats facing North and East were priced at an extra 5 per cent. "Due to Vaastu reasons, the public does not buy flats in other directions and hence we are pricing these a bit higher. This was to encourage the public to buy the flats in the South and West directions as they became slightly cheaper," he added.
The previous highest price for a BDA flat was the 3BHK Duplex flat (a single flat with two floors) at Alur priced at Rs 50 lakh. The villas at Hunnigere, which will also be priced above Rs One crore, are likely to be sold from October.
"We are getting external power supply connections installed by BESCOM presently. It is likely to be completed by the end of September. We hope to launch it by October," said a top official.