BDA to e-auction 68 sites on April 1

Bengaluru: After a gap of one month, the Bangalore Development Authority (BDA) has announced auctioning of 68 sites in 13 layouts it developed in the past.

Anyone can participate in the e-auction by providing a personal deposit of Rs 4 crore on the e-procurement portal before March 30. The live bidding will be held on April 1 at 11 am.

Majority of the sites are in Banashankari 6th Stage (2nd Block), extension of Anjanapura 11th Block, and Banashankari 6th Stage (4th B Block), among others.

Sites are also up for grabs in Banashankari 6th Stage (1st Block), Kumaraswamy Layout (1st Stage), Anjanapura 7th Block, and Sir M Visweswaraiah Layout, among others. 

The initial bid price ranges from Rs 1.27 lakh per square metre to Rs 59,500 per sqm. The minimum raise of the bid price will be in multiples of Rs 500 per sqm. 

Successful bidders are required to remit 25% of the total cost within 72 hours and the remaining amount within 45 days of receiving the allotment letter from the BDA. There should be a minimum of two bidders for the e-auction sites. The auction will be rejected if only one bidder turns up.