Five-day exercise nets Rs. 201.23 crore from 515.55 acres
Hill Land developers successful in five bids
BANGALORE: The last day of auctioning on Monday fetched the Government Rs. 22.02 crore for 15.83 acres of land in Bangalore North and East taluks. In all, the five-day exercise fetched the Government Rs. 201.23 crore from 515.55 acres.
On Monday, Hill Land developers succeeded in five bids totalling 14.41 acres at Hagadur and Kyalasanahalli in K.R. Puram hobli and Kempanahalli in Yelahanka hobli, and the bid amount was Rs. 19.34 crore. It included a piece of land measuring 5.12 acres at Hagadur village that netted Rs. 8.58 crore.
The auctioned lands fetched reasonably good prices with pieces of one acre of land fetching about Rs. 1 crore each.
The move drew wide attention in the light of the Government's announcement to fund the loan waiver scheme for farmers by auctioning lands that have been recovered from encroachments in Bangalore Urban district.
Political parties, the Congress, the Communist Party of India (Marxist) and the Janata Dal (United), had opposed it. They had demanded that the land could be utilised for public purposes or be set aside for future use by various government agencies.
The Government was expecting around Rs. 1 crore from each acre, and the officials expressed disappointment on the first day itself, as the bids failed to reach the expected mark. On that day, the Government realised only Rs. 24.93 crore from 102.03 acres following which Deputy Commissioner M.A. Sadiq announced that three pieces of lands would be re-auctioned. However, it picked up on the second and third days.
Earlier in March, the Government auctioned 61 acres of land for Rs. 71 crore.
The Prevention of Unauthorised Construction Cell also plans to hold four rounds of auctioning (350 acres of land) from May 11 to May 19.