The value of this laddu continues to spiral year-on-year. Last year, the Bala laddu was auctioned for Rs. 7.50 lakh. This year, after a bout of feverish bidding, the laddu went to former city Mayor and TDP leader Teegala Krishna Reddy for Rs. 9.26 lakh, a record of sorts.
What started as an innocent game of bidding, turned into a serious case of one-upmanship between Mr. Krishna Reddy and his closest bidder Resu Narasimha Reddy, with each trying to outbid the other.
In the end, Mr. Narasimha Reddy called it quits at Rs. 9.20 lakh while Mr. Krishna Reddy offered Rs. 9.26 lakh for the famed laddu . The bidding began with a modest Rs. 1,116 before crossing the Rs. 9 lakh mark.
The Balapur Ganesh festival organisers have also made it mandatory for outsiders who win the auction, to submit the amount on the spot before taking possession of the laddu.
TDP leader Teegala Krishna Reddy bags the laddu and asks the organisers to use the auction amount for developmental activities