Auctions have always been BDA's golden egg netting them more than the revenues normal site allotments can actually get them. Today BDA has announced e-auctions for sites in Uttarahalli and BSK 5th stage, which adds the much needed dimension for auctions, the electronic medium.
While many people do not have time to be at the auction venues each time, some depute other people on behalf of them. However, with e-auction comes not only some bit of transparency but also participating in an auction sitting on your desk!
check out the advt in TOI below:
What is interesting is that the initial bid per square meter is 39,000 rupees. Which means if we use conversions:
1 (square meter) = 10.7639104 square feet
This makes it Rs.3,635 per square feet, a whopping amount to pay up even for a 30x40 site (which works out to ~ 44 lakhs)
This shows BDA is clearly pushing brand bangalore and its corner site philosophy what with the FAR (floor area ratio) increased, as well as with some commercial possibilities in the offing. This then surely becomes a golden egg for both the BDA and the investors. Of course then this is only the starting price if one takes note of it and it can go anywhere between 4000 and 6000 per square feet making BDA a killing for its offering.
As the south western parts of Bengaluru improve in terms of connectivity to places like Whitefield and Electronics city, the areas have started commanding more and more money for the residential nature they offer. What then remains to be seen is how BDA goes forward into the next decade in terms of some serious thinking about long pending irritating issues like water supply, rain water harvesting, electricity supply, garbage disposal and transport facilities.
Tags: bangalore, bengaluru, bsk, 5th, bsk6, uttarahalli, happy valley layout, sites, e-auction, eauction, allotments, plots, land, real estate, south, west, kanakapura road, garbage, transport, water, khb, keb, bwssb, bbmp, bda, blog