The Balapur laddu has fetched a whopping Rs 9.26 lakh when it was auctioned ahead of the commencement of the centralised Ganesh idol immersion procession here on Wednesday morning.
Former mayor Teegala Krishna Reddy bagged the famed Balapur Laddu by bidding at Rs 9.26 lakh. As many as 12 people took part in the auctioning this year.
The bid started with Balapur Utsava Samithi amount of Rs 1,116 and it quickly rose to Rs 7.8 lakh in less than two minutes, beating last year’s winner Goverdhan Reddy’s winning bid of Rs 7.50 lakh and ended at Rs 9.26 lakh. “I dedicate the laddu to Chandrababu Naidu,” an elated Teegala Krishna Reddy said.
Krishna Reddy’s son, Amarnath Reddy who collected the laddu on behalf of TKR Ventures, said ‘’We will distribute it among devotees and sprinkle it in fields. I wanted to experience the joy of winning the laddu. That’s why we have participated in the auctioning.’’
The money generated through the auctions is supposed to be used for the development of the neighbourhood. It is believed that the ‘laddu’ brings good luck to the bidder, and hence, many come forward to participate in the auction. After bidding, the winner distributes it among the villagers and also sprinkles it in the fields for a better crop,” says president of the Utsav Committee.