BDA Flat Mela Sees Massive Response, 200 Flats Sold in a Single Day

The BDA Flat Mela organised by the Bangalore Development Authority (BDA) at the Kaniminike Housing Complex on Saturday witnessed an excellent public response, with 200 flats sold in just one day.

Over 500 people participated in the event, and 200 buyers booked flats. Around 150 of them paid the initial deposit on the spot, while allotment letters were handed over to 125 customers during the mela.

The BDA had earlier set the initial deposit for flat bookings at 25% of the total cost. Recently, the authority reduced it to 12.5%, resulting in increased interest from potential homebuyers.

Representatives from multiple banks were present at the venue to facilitate transactions. Senior officials, including Finance Member Dr. A. Lokesh, Chief Accountant Srinivasa Murthy, Deputy Secretary Krishnamurthy, Assistant Executive Engineer Imbavalli, Basava Reddy, Bhuvaneshwar, and others took part in the event.

BDA Reduces Initial Deposit for Plots, Flats, and Villas

A few days ago, the Bangalore Development Authority announced a 50% reduction in the initial deposit amount required to purchase plots, flats, and villas in its various layouts.

Earlier, the initial deposit was 25% for general category buyers and 10% for those from the Scheduled Castes and Scheduled Tribes. This was brought down to 12.5% and 5%, respectively.

However, due to a surge in demand, the BDA had raised the deposit amount from May 1 this year. This led to a sharp drop in daily online bookings-from around 5-6 flats per day to much lower numbers.

In response, the deposit requirement was reduced again. The positive outcome of this decision was reflected at the Flat Mela, which saw enthusiastic participation and strong sales.