Karnataka Information Commission Imposes Hefty Fines on Bengaluru Development Authority Officials
Sales at Kempegowda and Arkavathi Layouts exceed BDA’s expectations
BENGALURU:
The Bangalore Development Authority’s e-auction, conducted in December, has brought around Rs 411.59 crore to the government’s exchequer.
As per a BDA press release, of a total of 372 sites around 296 were sold in the e-auction.
BDA had estimated receipts of around Rs 215 crore for the 296 sites, while it received around Rs 348 crore, a gain of Rs 133 crore.
Corner sites
Further, in the e-auction for 118 corner sites at Nadaprabhu Kempegowda Layout, around 80 corner sites were sold. The estimated revenue from these sites was around Rs 44.28 crore, while the sales were Rs 63.59 crore, a gain of Rs 19.31 crore.
The release said the maximum rate for which plots were sold was Rs 6,608 per sq ft at Kempegowda Layout, while at Arkavati Layout it was Rs 14,368 per sq ft.
Next auction in May 2022
BDA further said the e-auction of 500 corner sites and another 500 intermediate locations will be held in May 2022.
The process of returning the initial deposit money to unsuccessful bidders is underway, the release added.
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