Demonetisation: No buyers for BDA flats

Due to demonetisation Bengaluru Development Authority (BDA) flats are ready but there is no buyer. BDA invited application for 3280 BDA flats built in and around the city of Bengaluru, but the authority has received only 750 applications from people who are interesting in buying flats. 

The reason behind no-show of the buyers is the cash crisis and financial uncertainties that hit the whole nation after November 8 announcement because of which potential buyers are unable to pay the primary deposit.

BDA had issued notification for the registration of flats on November 21 and started issuing the applications from November 28 through 185 branches of selected nationalised banks. 

But, the purchase of application is not up to the expectation since people are not getting Demand Drafts made from the banks on time. Even banks are not showing interest in granting home loans.

Besides, there are complaints about non-coordination between different sections of BDA. There are several departments in BDA for the issuance of application, distribution of flats, registration, issuance of documents, etc. 

There is no a single window system in BDA as of now. Hence, the customers are finding it inconvenient to collect information from each separate section.

Also, officers are busy in refunding the deposits of customers who were not allotted sites in Kempegowda Layout earlier. 

This year BDA had printed 14 thousand applications out of which 7 thousand were reserved for SC/ST applicants. Since banks are busy with demonetisation related bank formalities, they are not in a position to administer the works of BDA.  

• BDA
• BDA flats
• Bangalore Development Authority