Now Reading: BDA likely to extend Karanth Layout deadline to November 15
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BDA likely to extend Karanth Layout deadline to November 15
The Bangalore Development Authority (BDA) is likely to extend the deadline for submitting applications for sites in the Dr K Shivaram Karanth Layout to November 15, as only around 1,700 of nearly 5,700 applicants who collected challans have completed the payment process.
The BDA had set October 15 as the deadline. Officials said the steep initial deposit, ranging from Rs 8.7 lakh to Rs 29 lakh, may be deterring applicants. The BDA had expected around 30,000 applications for the layout, which is adjacent to the upcoming Bengaluru Business Corridor.
A final decision on the revised deadline will be taken shortly.
Indian Opinion Analysis
The low application-to-payment conversion rate signals a mismatch between the BDA's expectations and market demand for sites in the Karanth Layout, possibly due to high upfront costs. The extension to November 15 gives nearly 4,000 applicants who have not yet paid a second chance, but it also delays the allotment process. The BDA's final decision on the new deadline will determine how many of the 2,800 proposed first-phase sites are actually taken up.
Source: deccanherald.com
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