BDA offers 12,500 prime properties across Bangalore
The Bangalore Development Authority (BDA) plans to auction 12,500 BDA sites soon and has started offering 800-1,000 corner plots in the first phase. It has started preparatory work and the outcome of the first phase of the auctioning — response and bid value, among other things — will help shape the process in the coming months. Commissioner GC Prakash said that the agency will start the process in the next few days and will hold auctions every fortnight. The sites are in various residential layouts across Bengaluru city for which the BDA has fixed the minimum bid at 10% higher than the guidance. For example, if the guidance value of a site in a layout is ₹1,000/sqft, then the base price is fixed at ₹1,100 per sqft. First, it will sell some 8,500 corner sites in 54 layouts hoping to reap about ₹7,000 crore. In the second phase, 4,000 plots will be auctioned in the newly developed Nadaprabhu Kempegowda Layout, near Kengeri in October. Besides, the government is set to regularize illegal structures in both urban and rural areas, hoping to fetch at least ₹6,000 crore. It also plans to regularize 35 lakh buildings across the state, of which, 3 lakh buildings are in Bengaluru city alone.
📅Published on:
26 May 2020
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