Indians across the world eye sites in Bangalore

The e-auction of sites introduced by the Bangalore Development Authority (BDA) on December 23 is gradually gaining popularity. People from across the world are eyeing sites in Bangalore from the comforts of their homes.

While most of the aspirants are from Bangalore, many are also from Hyderabad, Mumbai, Delhi and the US. As of 4pm, December 27, the e-auction had 102 registrations.

However, not a single bid has taken place, said a BDA official. With the last date of the e-auction being January 21, 2011, people have been just registering for the e-auction to review all possibilities.

The 53 sites going under the hammer for e-auction are located in 2nd Stage in Kumaraswamy Layout, Happy Valley Layout, and Uttarahalli in 5th Stage, Banashankari. The rate at which the BDA has started the auction of 30x40, 40x60, corner, odd and stray sites, starts from Rs39,000 a square metre.

The BDA has decided only hold e-auctions and not general auctions. This is likely to further escalate the cost of properties in the city. Bidding and registration is restricted to Indians alone.

Non-resident Indians with higher purchasing power could make optimum use of it, creating a boom in the real estate market.

A BDA official said that telephonic enquiries were pouring in. Many, before registering, wanted to see the layout, its present status and verify if there were any disputes.

Some who have already registered also wanted to know more details and the location before bidding for it. Many were also seeking the help of legal experts to know details of the layouts, including any cases, previous owners, present owner and status of the layouts.

They were also enquiring in the neighbourhood and about connectivity to the sites.

The official said that citizens can even change their bids everyday, till the last date. So far it seems that people are very cautious.
An official in the e-governance department said that the system would also bring in transparency and accountability in the department. The rush and chaos in BDA offices would also be reduced.

From next week, the Mysore Urban Development authority would also start e-auction of 40 sites. The e-governance official added that the system had fetched revenue to the forest department also.

“Two months ago, they were selling rubber wood for Rs1,000 a tree. With the introduction of e-auctions, the rate has escalated to Rs4,000-Rs5,000 a tree. The same can be seen in the case of granite sale in Hassan district. With diversified approach and wider scope, development and business will boom in this manner,” he said.