Bengaluru

Over 600 sites sold in auction, BDA mops up ₹610 crore revenue

The recent auction of sites by the Bangalore Development Authority (BDA) saw over 600 sites sold, giving a boost to the cash-strapped agency’s coffers.

BDA Commissioner H.R. Mahadev told The Hindu that e-auctioning of the sites, which were done in a phased manner since July, saw 672 sites sold of the 912 auctioned. As many as 240 sites remain to be auctioned.

According to BDA data, the auction saw gradual improvement in response: in the July auction 162 of the 202 auctioned sites were sold; in August, 228 of the 308 auctioned sites were sold, and in the third phase in September, 282 of the 402 auctioned sites were sold.

“We will get around ₹610 crore from this. Some are yet to get the sites registered. But they have 45 days after bidding,” Mr. Mahadev added.

The auctioning came months after Chief Minister B.S. Yediyurappa announced that BDA sites would be auctioned as an additional source of revenue for the State government. e-auctions were held for sites in HSR Layout, Sir M. Visvesvaraya Layout, Banashankari, NGEF, J.P. Nagar, and Rajajinagar, among others.

The cost of a site ranged from ₹36,000 per sq.m to ₹1.6 lakh per sq.m, depending on the location. The BDA had said it had fixed 1.5 times the guidance value as the price for sites located in the layouts formed before 2000, and 1.2 times the guidance value for the layouts formed after 2000.

Public could participate in the e-auction to purchase sites. Geo-mapping was implemented on the BDA website for auctioned sites to enable bidders to view locations.

Earlier, the BDA had tried to generate revenue by auctioning sites to fund civil infrastructure projects. More recently, its decision of selling over 1,400 civic amenity (CA) sites, currently leased to private and government bodies, in and around the city had attracted objection from citizens and activists.

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Printable version | Nov 28, 2020 8:17:19 PM | https://www.thehindu.com/news/cities/bangalore/over-600-sites-sold-in-auction-bda-mops-up-610-crore-revenue/article32936988.ece

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