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4th phase auction for BDA corner sites from Oct 12

Bangalore Development Authority
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Bangalore Development Authority 

Highlights

After two successful auctions, the Bangalore Development Authority (BDA) is set to begin its 3rd e-auction from October 12

Bengaluru: After two successful auctions, the Bangalore Development Authority (BDA) is set to begin its 3rd e-auction from October 12. The Karnataka government had earlier decided to auction BDA corner sites across various layouts in Bengaluru to raise funds.

E-auction notification for forth phase has already been issued by the authority and a total of 448 sites of various dimensions in Banashankari, SMV Layout, JP Nagar, Arkavathi Layout, BTM Layout has been published. Live bidding will commence from October 12 and the closing of bidding will be completed from November 3 to 7 in six stages. Geo-tags have been incorporated for all the sites being auctioned and the link has been published on the BDA website. As per the BDA format aspirant bidders can sit in any part of the world and view locations.

BDA claims that in the third phase, it had announced the auction of 402 sites of various dimensions and received good response from the public. A total of 402 sites were announced, wherein 40 sites were withdrawn from the auction due to unavoidable reasons. Out of 362 sites, ,286 sites have been sold and 1,673 bidders participated The gain percentage is 47.58 out of the bid amount.Therer has been no response for 55 sites.

According to the reports, the initial deposit for Arkavathi layout site number 1355 was fixed at 44,400 and bidders purchased this site by bidding three times against the initial amount and site No. 213/A of HSR layout, Sector-3 initial bid amount for fixed at Rs 1,50,000 and has been sold at Rs 2,71,000 per sq.mtr.

DETAILS OF SITES AUCTIONED

Number of sites in the notification

402

No response

55

Less than 5%

21

Number of sites withdrawn from the auction

40

Number of sites auctioned

286

Total Bidders

1,673

Total Bid Amount

Rs. 1,80,45,73,202

Total auctioned value

Rs. 2,66,31,95,312

Gain

Rs. 85,86,22,110

Percentage of Gain

47.58


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