Mahadevpuram Scheme in Bareilly: Plots Likely at ₹24,000/sqm, Nearly Half of Ramganga Yojana Rates

Bareilly: The upcoming Mahadevpuram township by Bareilly Development Authority (BDA) is set to emerge as one of the most affordable housing schemes in Uttar Pradesh, with plot prices expected to range between ₹24,000 and ₹24,500 per square metre, according to a recent press note published in Amar Ujala.

The scheme is being positioned as the second cheapest plotted development by any development authority in the state, after a Jhansi Development Authority scheme where plots were priced at ₹12,500 per sqm.

High Demand in Survey, Prices Kept Competitive

As per initial estimates, nearly 4,500 applications were received during the demand survey, indicating strong interest among buyers and investors. The authority is reportedly keeping prices lower under policy guidelines aimed at affordability, making the project attractive for first-time buyers.

The final price may fluctuate by around ₹500 per sqm, depending on the authority’s final approval.

Plot Sizes and Tentative Price Calculation

The scheme is expected to offer multiple plot sizes, including:

• 72 sqm
• 112 sqm
• 162 sqm
• 200 sqm
• 288 sqm (additional estimate)

Cost Components Explained

• Base Price: ₹24,500 per sqm (tentative)
• Freehold Charges: 12% extra
• Registration Amount:
  • 10% for general category
  • 5% for reserved category

Example Price Breakdown

• 72 sqm plot: ~₹17.64 lakh (base), ~₹19.75 lakh including freehold
• 112 sqm plot: ~₹30–31 lakh range
• 162 sqm plot: ~₹44–45 lakh
• 200 sqm plot: ~₹54–55 lakh
• 288 sqm plot: ~₹79 lakh (approx.)

A slight reduction of ₹500 per sqm could bring entry-level plots closer to ₹19 lakh, making it highly competitive.

Mahadevpuram vs Ramganga Yojana: Price Gap स्पष्ट

A major highlight is the sharp price difference between Mahadevpuram and Ramganga Awasi Yojana, where resale rates have surged significantly.

Comparison Snapshot

• 72 sqm equivalent:
  • Mahadevpuram: ~₹20 lakh
  • Ramganga (resale): ₹40–50 lakh
• 112 sqm plot:
  • Mahadevpuram: ~₹30 lakh
  • Ramganga: ₹55–80 lakh
• 162 sqm plot:
  • Mahadevpuram: ~₹45 lakh
  • Ramganga: ₹90 lakh–₹1 crore
• 200 sqm plot:
  • Mahadevpuram: ~₹55 lakh
  • Ramganga: ₹1.2–1.3 crore

This indicates that Ramganga prices are nearly double, suggesting that buyers may already be paying future appreciation upfront.

Investment Perspective: Wait or Buy Now?

For investors, Mahadevpuram is being seen as a strong opportunity due to lower entry cost and future growth potential.

• Lower initial investment (~₹20–55 lakh)
• Scope for price appreciation similar to Ramganga
• Upcoming infrastructure boost

However, end-users with immediate needs may still consider Ramganga depending on budget and readiness.

Location Advantage and Connectivity

The project is expected to come up along the Sitarganj Road corridor, under the Bharatmala highway development, near the Amara Vilas area.

Though initially perceived as distant, experts suggest that connectivity improves over time, reducing psychological distance barriers for buyers.

Launch Timeline and Eligibility Rules

The scheme is likely to be launched within 2 to 2.5 months, with initial sectors opening first.

Eligibility Highlights

• Applicants must not own a plot or house within BDA jurisdiction
• Ownership in other cities of Uttar Pradesh does not restrict eligibility
• Applies to self, spouse, and minor children

Conclusion

The Mahadevpuram Scheme is shaping up to be a game-changer in Bareilly’s real estate market, offering plots at nearly half the price of existing schemes like Ramganga. With strong demand, strategic location, and affordable pricing, it is likely to attract both investors and homebuyers in large numbers.

Buyers are advised to track official announcements closely as final pricing and application details are released soon.