BDA raises Rs 2,097 crore from auctioning 52-acre plot in Bengaluru's Konadasapura

Bengaluru: In a single transaction, the Bangalore Development Authority (BDA) has raised a whopping Rs 2,097 crore by auctioning a 52-acre commercial plot in Konadasapura, off Old Madras Road. 

While the deal fetched Rs 468 crore more than the BDA's original estimates, even major players struggled to stay afloat during the intense live bidding, with the e-auction stretching beyond 20 rounds.

This also marks a rare move, as the authority, for the first time, auctioned commercial land going beyond its usual mandate of dealing with residential sites.

A total of five bidders, including Brigade Group and Godrej Properties, participated in the live bidding for the property, which has an 80-ft road on one side and the Hoskote–Whitefield Road on the other. At the end, Hyderabad-based Srini Nirman Pvt Ltd quoted Rs 2,097 crore, which translates to Rs 98,466 per sq metre or Rs 40.13 crore per acre.

The 52-acre land parcel — the BDA had proposed to set up a steel yard on the plot around two decades ago but found no takers — was among three properties listed by the authority for auction on January 5.

Two smaller plots — measuring 2.19 acres and 1.31 acres — failed to attract bidders, which were also located in Konadasapura but near a waterbody. 

Target Rs 10,000 crore

As per its detailed financial plan, the BDA has set a target of raising at least Rs 10,000 crore through multiple measures by the end of FY 2026. These include e-auction of bulk land and residential sites; deposits collected through applications for the Dr Shivaram Karanth Layout; sale of flats, villas and CA sites, and implementation of Section 38 (D) of the BDA Act, which allows allotment of sites in favour of original owners, purchasers or unauthorised occupants upon payment of penalties.

Using these funds, the BDA has proposed several infrastructure projects, including the formation of six residential layouts, mostly in North and East Bengaluru, and construction of a 2.1-km short tunnel at Hebbal at an estimated cost of Rs 2,215 crore, among others.

A senior BDA official attributed the successful deal to internal reforms initiated over the last six months. "We encouraged major players to participate by ensuring transparency in live bidding and widely publicising the e-auction. And the result is there for everyone to see," he said, referring to the Rs 468 crore excess revenue in a single e-auction.

The BDA, he said, will seek the government’s approval on how the funds should be utilised.

A view of Bangalore Development Authority (BDA) head office in Bengaluru. DH PHOTO/PUSHKAR V

Highlights - Big deal
* Plot location: Konadasapura, off Old Madras Road
* Bidders: 5
* Winner: Hyderabad-based Srini Nirman Pvt Ltd
* Rate: Rs 40.13 crore per acre
* BDA had proposed to set up a steel yard here two decades ago
* It had listed 3 properties for live bidding
* Two other properties ( 2.19 acres, 1.31 acres) found no takers

Quote - We encouraged major players to participate by ensuring transparency in live bidding and widely publicising the e-auction. And the result is there for everyone to see.

A senior BDA official