+
Vastu concerns contributes in declining demand for BDA flats
Real Estate

Vastu concerns contributes in declining demand for BDA flats

Vastu considerations have become a key factor in the declining demand for Bangalore Development Authority (BDA) flats, despite their affordability. With over 3,500 units still unsold, BDA is facing financial difficulties and has sought assistance from private builders to help sell the remaining inventory.

Out of the 11,917 units constructed, 3,586 remain unoccupied. Despite efforts to boost sales through online platforms, flat sale fairs, and bulk buyer discounts, the desired results have not been achieved. A senior BDA official noted that several factors were contributing to the slow sales, including the lack of Vastu-compliant designs, which is an important consideration for many potential buyers.

The official also pointed out that many BDA housing complexes are located on the outskirts of the city, where road and Metro connectivity is insufficient, making them less attractive compared to centrally-located private developments. Persistent issues such as unreliable electricity supply and complaints about poor construction quality have further discouraged buyers. Even the rental market has stagnated, with residents reporting low interest from potential renters, compounding the issue.

Supriya Girish, a resident of Vijayanagar, recounted her experience, explaining that after purchasing a 2 BHK flat in Gunjur two years ago and doing interior work to rent it out, she found no one was interested in renting it due to the location. The distance made it difficult for her family to commute, leaving them stuck with the flat.

In response to these challenges, BDA is increasing its collaboration with private builders to facilitate flat sales. The authority is also focusing on improving apartment management through residents' associations to ensure better maintenance and community living standards.

NA Harris, MLA and chairman of BDA, acknowledged the difficulties in accommodating all buyers' preferences, explaining that while some people believe in Vastu Shastra, others do not, making it challenging to design homes that meet everyone's expectations. He added that BDA was negotiating with private builders and taking steps to manage the unsold flats through apartment residents' associations. Harris further noted that BDA was offering homes at a very low price to ensure affordability, as buying a house from private builders in the city is costly.

BDA Commissioner NS Jayaram mentioned that several programmes were being planned to boost the sales of BDA flats, expressing hope that strategic collaborations and improvements in infrastructure would eventually revive demand, benefiting both the authority and prospective homeowners.

Vastu considerations have become a key factor in the declining demand for Bangalore Development Authority (BDA) flats, despite their affordability. With over 3,500 units still unsold, BDA is facing financial difficulties and has sought assistance from private builders to help sell the remaining inventory. Out of the 11,917 units constructed, 3,586 remain unoccupied. Despite efforts to boost sales through online platforms, flat sale fairs, and bulk buyer discounts, the desired results have not been achieved. A senior BDA official noted that several factors were contributing to the slow sales, including the lack of Vastu-compliant designs, which is an important consideration for many potential buyers. The official also pointed out that many BDA housing complexes are located on the outskirts of the city, where road and Metro connectivity is insufficient, making them less attractive compared to centrally-located private developments. Persistent issues such as unreliable electricity supply and complaints about poor construction quality have further discouraged buyers. Even the rental market has stagnated, with residents reporting low interest from potential renters, compounding the issue. Supriya Girish, a resident of Vijayanagar, recounted her experience, explaining that after purchasing a 2 BHK flat in Gunjur two years ago and doing interior work to rent it out, she found no one was interested in renting it due to the location. The distance made it difficult for her family to commute, leaving them stuck with the flat. In response to these challenges, BDA is increasing its collaboration with private builders to facilitate flat sales. The authority is also focusing on improving apartment management through residents' associations to ensure better maintenance and community living standards. NA Harris, MLA and chairman of BDA, acknowledged the difficulties in accommodating all buyers' preferences, explaining that while some people believe in Vastu Shastra, others do not, making it challenging to design homes that meet everyone's expectations. He added that BDA was negotiating with private builders and taking steps to manage the unsold flats through apartment residents' associations. Harris further noted that BDA was offering homes at a very low price to ensure affordability, as buying a house from private builders in the city is costly. BDA Commissioner NS Jayaram mentioned that several programmes were being planned to boost the sales of BDA flats, expressing hope that strategic collaborations and improvements in infrastructure would eventually revive demand, benefiting both the authority and prospective homeowners.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train’s Surat-Vapi Section Set for 2027

The first section of the Mumbai-Ahmedabad Bullet Train corridor, linking Surat and Vapi, is targeted to begin services in 2027. Construction is expected to be completed by December 2026, while Railway Minister Ashwini Vaishnaw has indicated that an inauguration could take place around the middle of 2027. The National High Speed Rail Corporation (NHSRCL) said the train being manufactured in India is expected to reach the tracks around April or May 2027. The train will undergo extensive testing before the section is opened for passenger services. The project began construction in 2021 and includ..

Next Story
Infrastructure Transport

Indian Railways Approves Four Projects Worth Rs. 7.36 bn Across Four States

Indian Railways has approved four projects with a combined value of Rs. 7.36 bn across Uttar Pradesh, Maharashtra, Andhra Pradesh and Gujarat. The programme covers train protection, signalling, electric traction supply and a road overbridge, with each project assigned to a different railway zone. In Uttar Pradesh, Rs. 2.52 bn has been approved to extend the Kavach 4.0 automatic train protection system across 607.7 km in the Lucknow Division of North Eastern Railway. The system monitors train movements and can apply the brakes if a driver fails to observe a signal or exceeds a safe speed. The w..

Next Story
Infrastructure Urban

Chandru Raheja Sells 1.49% Stake in Mindspace REIT for Rs. 5 bn

Billionaire Chandru Lachmandas Raheja has sold a 1.49 per cent holding in Mindspace Business Parks REIT for Rs. 5 bn through a bulk deal on the BSE. The transaction involved 9.9 mn units and was executed at an average price of Rs. 505 per unit, according to exchange data. Following the sale, units of Mindspace Business Parks REIT were trading 0.18 per cent lower at Rs. 504.05 on Tuesday. Exchange data did not identify the buyers involved in the transaction. Raheja is the chairman of real estate company K Raheja Corp. The sale involved 99,00,990 units, representing 1.49 per cent of the Mumbai-b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code