BDA auctions listed 166 corner sites across Bengaluru

The state government’s plan to auction corner sites across Bengaluru has paid rich dividends as it managed to sell off 85% of the sites.

The funds procured will be spent on Covid-19 relief work. Of the 195 sites up for grabs in many localities, 166 sites were auctioned without middlemen. The auction is expected to fetch the Bangalore Development Authority (BDA), the custodian of the sites, Rs 210.82 crore in revenue.

Following the state government’s decision to auction the corner sites, the BDA had allowed online registration for the public until a few days ago. It received an overwhelming response with more than 2,500 people bidding for the sites.

Though a technical glitch had stalled the e-procurement portal on the last day of the registration, the BDA officials fixed it and extended the registration by a further day.

Though 166 sites had been sold, 10 had no bidders and 19 other sites did not get the amount the BDA had wanted and were, therefore, struck off from the auction.

Information from the BDA officials revealed that successful bidders are asked to pay 25% of the site’s value in three days.

Earlier, the BDA was auctioning about 50 sites a month and had only 40% success.

From the bidders’ response, it emerged that corner sites in Sir M Visvesvaraya (SMV) Extension received 82 bidders, while sites in Banashankari 4th and 6th Stages lured 32. Anjanapura Further Extension and HSR Layout attracted 11 bids, whereas SMV Further Extension got 10 bids.

The value of the sites was highest in HSR and Banashankari 4th and 6th Stage, fetching Rs 45.19 crore and Rs 41.83 crore, respectively. “From the sales and advance payments, the BDA will get Rs 52.70 crore revenue,” an official revealed.

Second round of auction

Buoyed by the response, the agency is planning a second round of auction. BDA sources told DH that a further 300 sites will go under the hammer in the second round. The bidders included overseas Indians (NRIs) and working professionals planning to settle down in Bengaluru.