BDA to auction 101 developed sites, fixes Feb 16 for e-auction

Bengaluru: A month after auctioning 66 sites, the Bangalore Development Authority (BDA) has identified 101 'developed sites' for sale.

The sale of these sites in Banashankari 6th Stage, Anjanapura 9th Block, HAL Layout, HBR 1st Stage, HSR Layout, Koramangala 8th Block, RPC Layout, M Vishweshwaraiah Layout, and JP Nagar 8th Phase is expected to fetch Rs 300 crore for the cash-strapped agency.

It has been fixed for February 16 to begin live bidding, setting a base price ranging between Rs 60,000 per square metre and Rs 2.02 lakh per square metre.

Those interested in participating in the e-auction should deposit Rs 4 lakh per site. Successful bidders are expected to pay 25% of the value in 72 hours from the time the e-auction closes. They should pay the remaining 75% of the sum in 45 days from the receipt of the allotment letter from the BDA.

The authority will credit the initial deposit of Rs 4 lakh from unsuccessful bidders in their accounts in a month’s time, officials said. At least two bidders must be available for the e-auction, while it will reject single bidders. The BDA has uploaded details of the 101 sites, including their locations, onto their website.