Multi-storeyed residential construction in KK Nagar by CMDA!
Posted on: 21/Jul/2014 3:05:30 PM
CMDA has planned to build a multi-storeyed residential in the woodwork area in KK Nagar. There will be 627 flats. The price of the flat is fixed at Rs. 82 Lakhs.
CMDA was started with the main intention of building affordable residences for the public benefit. However, during recent times, CMDA has stopped looking for new constructions; instead, it has started focussing on self-financing projects.
KK Nagar woodwork area and Koyambedu South Aisan Games village were chosen by CMDA for building multi-storeyed residential buildings in 2012. The plans were approved by the management. Now, CMDA has announced the sales of these flats.
A 11-storeyed residential building is planned to be constructed in the KK Naga woodwork area. There will be 627 flats for occupation. 572 flats of 824 sq ft to 867 sq ft are intended for the middle income groups For the low income groups, there will be 55 flats of 589 sq ft.
Price
The price of the middle income group flats is fixed at Rs. 82 Lakhs.
The price for the lower income group flats is fixed at Rs. 57 Lakhs.
Is this CMDA Project justifiable?
Those interested in buying the flats can get applications between 23rd July & 22nd August. While submitting the filled application, an advance of Rs. 2 Lakhs as first installment will have to be paid. The balance can be paid in 9 equal installments.
With the risking cost current lifestyle, even the middle-income group will struggle to buy a flat at Rs. 25 Lakhs! In this scenario, the public has raised the important question whether this is justifiable putting up prices of Rs. 82 Lakhs for the middle income group!
