What is the BDA E-auction 2020 process? How to participate in BDA e-auction Bangalore? Find answers to all your questions.
The Bengaluru Development Authority (BDA) has started the first phase of e-auctioning sites in various layouts. The auction was to be held in the first week of June but was delayed when the commissioner GC Prakashw as replaced by HR Mahadev.
Check out: Bangalore BDA E Auction 2020 Process
BDA E-Auction 2020 Process
In all, the BDA has around 12,000 sites of which 7,000 will be probably put up for sale. Most of these sites are corner sites and located in Banashankari and M. Visvesvaraya Layout.
Site prices range from ₹36,000 per square meter to ₹1.60 lakh per sq meter. The sites will be auctioning in phases. Dates for the second phase will depend on the response to the 1st phase of auctioning.
The sites are being auctioning to raise revenue for the state government. In the past, the BDA had attempted to generate revenue by auctioning sites to fund civil infrastructure projects such as the steel flyover project.
For this phase, it has invited bids for 202 sites in HSR Layout, Sri M Visvesvaraya, JP Nagar, NGEF, Banashankari and Rajajinagar.
Bids will be accepted from Jun 29th to 6 pm on July 7th.
Interested parties may submit an expression of interest and pay Earnest Money Deposit (EMD) of Rs 4 lakhs by July 6th. This is a refundable fee.
BDA E Auction 2020 – How To Bid?
- Visit the BDA e-auction website
- Register as a new user or log in with existing details
- Place your bid and pay auction fees
- A single bidder may place a bid at the starting amount or increase the current bid by the minimum amount specified.
- EMD may be deposited online or through DD.
- Upload KYC documents
- Photo identity
- PAN card
- Address proof
- Specimen signature
- Contact details
- The successful bidder must pay 25% of the total amount within 72 hours of the results being announced.
- The remaining 75% may be paid within the next 45 to 60 days.