How do I participate in BDA e auction?

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How do I participate in BDA e auction?

Applicant should be a Citizen of India. NRIs & Partnership firms also can participate in the auction. Applicant has to pay Rs 4 Lakh per site as Earnest Money Deposit (Deposit amount is refundable ) Successful bidder has to remit 25\% of auction amount in 3 days.

Is it safe to buy BDA auction sites?

Shivkumar said, “This auction is completely illegal. It is in violation of a High Court order that is based on the 1984 rules notified by the government.” He also said that those who purchase these plots in the auction might be running a huge risk. “Anybody can challenge these purchases in court.

Who can buy BDA sites?

Who can apply for the BDA layout in Bangalore?

  • The flat will be allotted on first come first serve basis.
  • Candidates must attain the age of 18 years while applying.
  • Candidate must be a domicile of Karnataka for a minimum of 15 years.
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How much money has BDA made from e-auction of corner sites?

As per the BDA sources – As of March 11, a total of 1,566 sites were auctioned in six rounds of e-auction. BDA has earned revenue of around Rs 1,412 crore from auctioning of corner sites. Barring 135 sites, for which they rejected the bids as they were low, the rest have exceeded their expectations.

Is there a lottery system in BDA e-auctions?

There is no lottery system. The highest price bidder of a particular plot will win the auction. BDA had successfully conducted e-auction during June – July 2020 for around 200 corner sites in the first phase. The E-auctions for sites at HSR Layout, Sir M. Visvesvaraya Layout, Banashankari, NGEF, J.P. Nagar and Rajajinagar.

How many BDA sites will be auctioned in Karnataka?

This comes two months after the Karnataka State Chief Minister B.S. Yediyurappa announced that around 12,000 BDA sites will be auctioned in a phased manner. Since 2011-12, the BDA has been aggressively offering the plots for sale through e-auction. These are residential / commercial sites in well developed localities of Bangalore.

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What is e-auction of Bangalore Development Authority site?

Consumer court to rescue of person unable to take over allocated site. BENGALURU: To ensure transparency in the allotment of its sites, the Bangalore Development Authority (BDA) will e-auction its site.