Owing to its poor financial health, the Bangalore Development Authority has decided to auction its sites twice a month, putting a minimum of 50 under the hammer.
The agency would aggressively offer corner, intermediate and commercial sites available in various layouts.
BDA commissioner Rakesh Singh said only one auction is notified per month right now and just 50 to 60% of the sites are offered to the buyers. "This strategy needs to be changed to ensure revenue is mobilised and accountability established among officials," he added.
The BDA is currently preparing a list of sites with maximum auction potential. In places where the potential is less, the agency would work on priority to improve things like connectivity. It is also drawing up a list of sites auctioned multiple times due to official errors.
The commissioner has asked the officials to list out the sites auctioned in the past three years that had no takers. The areas of such sites must get special attention, and reason for the poor response should be analysed.
To ensure professionalism among its officials and to ensure buyers are satisfied, Singh assured there will not be any delay on the part of the BDA in sending letters to the buyers after they have remitted 25% of the site value.
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