The Bangalore Development Authority (BDA) has achieved a remarkable sales milestone with its latest residential project in Chandra Layout. All 120 high-end 3BHK flats in the newly constructed ten-storey tower, priced at over ₹1 crore each, have been sold within a year of their release. This marks a historic high for the BDA, reflecting strong demand for premium housing in the city.
The development, known as Nagarbhavi Flats, is strategically located at the entrance of Chandra Layout, benefiting from its proximity to the Nayandahalli Metro station and the outer ring road. The project’s prime location, coupled with easy connectivity, has significantly contributed to its appeal. The flats are situated in a well-planned tower, with 12 units per floor, and boast a base price starting at ₹1.04 crore, with the maximum price reaching ₹1.15 crore for units with premium views. Key features of the project include in-house amenities such as a gym and well-maintained internal roads. The residential complex benefits from its proximity to three parks and the Durga Parameshwari temple, further enhancing its attractiveness to potential buyers. Notably, more than 20 of these high-value flats have been acquired by legal professionals, including judges and advocates.
The sales strategy involved differential pricing based on direction, with North and East-facing flats commanding a 5% premium due to Vaastu preferences. This approach aimed to encourage purchases of flats in the South and West directions by offering them at a slightly reduced rate. Previously, the highest-priced BDA property was a 3BHK duplex flat at Alur, priced at ₹50 lakh. The BDA is now preparing to launch its next high-value project—a set of villas in Hunnigere—expected to exceed ₹1 crore. This new development will go on sale in October, following the installation of external power connections by BESCOM, anticipated to be completed by the end of September.
