MUDA chairman K.R. Mohan Kumar told The Hindu that the apartments would be built at nine places where the authority had adequate land, and this included Vijayanagar, Kuvempunagar, Sathgalli and the newly developed R.T. Nagar.
Though MUDA was keen to launch the ground-breaking work and take up construction immediately on securing the administrative approval, it could not as the model code of conduct for the ensuing elections to the Legislative Council would be in place till December 30. Hence, the project may as well be a New Year gift for the house aspirants as the work would be taken up in January 2016.
“The apartments will have 2 BHK and one BHK units and will be reasonably priced so as to cater to the genuine end-users coming under the low or middle income group,” said Mr. Mohan Kumar. At the current rate of construction, MUDA would charge about Rs.16 lakh for the 2 BHK units, he added. The project had been earmarked about Rs. 90 crore in the last year’s budget in anticipation of the approval, said Mr. Mohan Kumar.
Like all MUDA transactions, the sale deed would be issued only on completion of 10 years to prevent the beneficiary from selling it to a third party at market rate to make a profit.
The proposal to construct 2,000 units was mooted in January 2015 and there was delay in securing administrative approval to take up the work immediately.
The project is also a tacit admission that sites cannot be carved out by procuring agricultural land fuelling urban sprawl and horizontal expansion of the city infinitely. It is also an indicator that the city will witness high-density vertical growth in future.
For the record, there are over 1.5 lakh site aspirants in the city and their numbers are increasing whereas MUDA has allotted about 3,500 sites to 4,000 sites in the last 10 to 15 years and it will be impossible to meet the demand for sites in future.