How To Install Android 4.4 Kitkat on Nexus 4 [Tutorial]

The new Android 4.4 Kitkat can now be installed on your Nexus 4!

Before you start though, it's highly recommended to update your current recovery, and I highly recommend you use CWM recovery as many people have reported that TWRP fails to flash the ROM. You can, of course, still try and see if it works as it does no harm. Anyway, I updated CWM recovery with the help of an application called Recovery Tools - Flasher. Once you have your custom recovery updated, reboot in to the recovery.

Now, follow these 3 simple steps.
1. Do a factory reset.
2. Flash the ROM
3. Flash the GAPPS
4. And lastly flash SU if you want to have root privileges.

And that's it, after flashing the files, Android 4.4 should now be successfully installed on your Nexus 4.
Keep in mind there may be some bugs as it is not the official release for Nexus 4 and lacks optimizations.

Original thread on XDA with download links
http://forum.xda-developers.com/showthread.php?t=2506678

Recovery Tools - Flasher
https://play.google.com/store/apps/details?id=de.mkrtchyan.recoverytools