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BDA auction for corner sites gets good response

The Bangalore Development Authority (BDA) has garnered Rs 133 crore in excess of what it anticipated for the 296 corner sites which went under the hammer.

Published: 03rd January 2022 01:51 AM  |   Last Updated: 03rd January 2022 08:31 AM   |  A+A-

Representative picture of a corner site at a BDA layout in Bengaluru

By Express News Service

BENGALURU : The Bangalore Development Authority (BDA) has garnered Rs 133 crore in excess of what it anticipated for the 296 corner sites which went under the hammer. Buyers placed bids worth a total of Rs 348 crore, in place of the Rs 215 crore the BDA had expected during the e-auction. 

Sites at M Visvesvariah Layout gave the best returns for the authority, with one site sold at 300 per cent the base price fixed. Sites in Nadaprabhu Kempegowda Layout and Arkavathy Layout were also up for bids. Owing to a range of reasons, however, 76 of the 372 properties, were not allotted to anyone. 

A senior BDA official said that a site for 47.7 sq metres at Annapurneshwari Nagar (8th Block) of Visvesvaraiah Layout had the best bid, going for Rs 1,00,69,750. “We had fixed it for Rs 31 lakh, but got over a crore for it. So, it has fetched us triple the income,” he said. 

The costliest site was also in the same layout, and it fetched the BDA Rs 4.48 crore, he informed. It was a huge site running to 474 sq metres.  Corner sites are coveted BDA properties due to their access and ventilation, and frequently bring in good income for the BDA. “The process of returning initial deposit money to unsuccessful bidders is in progress,” said an official release. 

The sites at NPKL were sold for Rs 6,608 per sq foot, while they went for Rs 14,368 per sq feet at Arkavathy Layout. The authority will sell 500 corner sites and 500 intermediate sites (regular ones) in May this year.



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