THE latest BDA Plots E-auction July 2020 will commence from 20th July 2020. BDA called for E-auction of vacant corner sites and the bidding will start from 20th July 2020 to The Bengaluru Development Authority (BDA) has auctioning of the BDA corner sites from 20th July 2020 to ending at various dates.
Do remember that these sites are corner sites and hence obviously the price will be a bit higher than the normal sites. However, buying in bidding may be beneficial compared to buying from the owners or from the middlemen. Because as you are buying directly from BDA, the documentation issues will not be there, and also as per my knowledge, the price may be a bit lesser than buying directly from the owners. However, the price again vary based on demand and supply.
BDA has so far formed about 60+ layouts in Bangalore. Bangalore BDA maintains a seniority list of applicants who has applied for sites in BDA layouts. After forming a layout, BDA generally allots the plots based on certain criteria and lottery system. The e-auction process is different to this. Any citizen of India can apply for auction. There is no lottery system. The highest price bidder of a particular plot will win the auction.
Latest BDA Plots E-auction July 2020
Earlier 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. The response was overwhelming even in such a economic downtrend.
Using this opportunity, BDA again called for the auction of corner sites from 20th July 2020.
The E-auctions for sites are at Sir M. Visvesvaraya Layout, Banashankari and Anjanapura commences from July 20, 2020.
The last date to express interest of participation is 06-Aug-2020 to 11-Aug 2020 and the last date for closing e-Auction is 7th Aug, 2020 to 12th, Aug 2020, depending on the location of the site.
You can download the Latest BDA Plots E-auction July – August 2020 details.
Terms and conditions for Latest BDA Plots E-auction July – August 2020
# The person who is applying for auctoin should be a citizen of India.
# The initial bidding deposit (EMD) is Rs.4,00,000 per site along with e-Auction cost (it is refundable if not got the site in bidding)
# Successful bidder has to remit 25% of auction amount in 3 days (excluding the Rs.4,00,000 EMD).
# The remaining 75% of the property should be payable within the 45 days from the date of receipt of letter from BDA regarding the allotment.
Why you have to look for this Latest BDA Plots E-auction July – August 2020?
- The whole process is online. However, we can’t deny 100% transparency as it is claimed.
- You can view the bid prices quoted by the other bidders on the screen.
- The majority of the properties offered are corner plots.
- BDA layouts are comparatively well developed with good infrastructure. They have developed road, sanitary, water, and park in many localities.
- Getting loans for such properties is very much easy.
- You may save middlemen costs going by e-Auction.
- Reselling is easy as such sites are marked as high in demand compared to private players developed layouts.
- FINALLY, I am also the resident of BDA Layout. I am currently staying in SMV Layout 5th Block, which as per me cost you the highest among all SMV Layout but worth buying considering the way the layout is developing.
Latest BDA Plots E-auction July – August 2020 – How to apply?
You can view the complete procedure explained Download the process details of how to apply for Latest BDA Plots E-auction July – August 2020.
You can download the E-auction Notification Sites Geotag also.
Latest BDA Plots E-auction July – August 2020 – Is it worth?
Yes, considering the below points, I suggest that you can apply for E-auction of BDA.
# Documents are clean and no legal issues.
# Layouts are well developed with water, roads, sanitory, location marked for park.
# You can avoid the middlemen by opting this process.
# Easy loan availability.
# Easy to resell if you wish to sell it.
Conclusion:-I am being the resident of 5th Block SMV Layout, I am saying that it is worth to go for E-auction if you are really looking for the sites in Bangalore. However, bidding depends on demand and supply. Hence, look for your budget also. I am suggesting this only if you have a plan to buy and build a house for your residential purpose. Do remember that whatever you pay in this auction is WHITE money. Hence, be cautious while buying. You may have to show the source of funding to this investment if in future IT Department questions you.
Our Latest Posts:-
- Top 10 Best Debt Mutual Funds to invest in India in 2022
- Top 10 Best SIP Mutual Funds to invest in India in 2022
- LIC IPO 2022 – Don’t do these MISTAKES!!
- ITR Forms AY 2022-23 / FY 2021-22 – Which form to use?
- Latest Post Office Interest Rates April – June 2022
- Equity Investment – Dream Vs Reality
14 Responses
I am unable to open the BDA Plots E-auction link getting error. Please let me know when will be last date for this.
Dear Nandini,
Check the above post for the last dates.
Hi Basavaraj,
I have always found your post very informative.
With the auction over, do you know at what price (rate) the sites were auctioned in Vishsweraya layout and BSK-6. Or know of any link where I can that info.
Appreciate your response.
Thanks alot.
Dear Pandri,
As of now, they have not revealed.
Sir,
I am planning to participate in the bid for next auction. can you give me rough idea that how much per square meter the price is. i have to prepare my corpus according to that.
Thanks
Dear Nirankar,
Hard to predict.
Dear Mr. Basavaraj Tonagatti,
Your initiative in this regard is highly appreciable. As per your knowledge, can you guess the funds flow with the people and market scenario under this pandemic situation and what may be competition in the bidding. What may be chances of getting sites under this economic situation.
Thanks,
With regards,
Dear Mukund,
If we go by last bidding, it was around 1:10 ratio. The price at last it ended is almost double the price of what the minimum price BDA quoted to bid.
Is there a data from recent auction which shows bid price and the trajectory from base price to final bid
Dear Bharathy,
Sadly NO.
Thanks for the info.
My only concern is that Rs.4,00,000 needs to be paid per site to get into the auction which is too steep.
Now the shortlisted site might go out of budget as the case most of the times the winning bid is 1.5x to 2x the base bid price.
Where as sometimes some sites there will be no bids.
If the system was such that for the initial amount of Rs.4,00,000 the bidder can apply for 4-5 sites that he has shortlisted then it would be a better process.
If he wants to bid for more than 4-5 sites then he can pay additional Rs.4,00,000 and bid for another 4-5 sites.
Nevertheless this eAuction is a good step by BDA which needs some fine tuning.
Dear Ashok,
If you are applying for around Rs.50 lakh plot and you are concerned about Rs.4 lakh downpayment, then how can you go ahead? Also, as per me, it is much safer to pay an initial bidding amount of Rs.4,00,000 to the BDA than an individual or middlemen if you try to buy from other persons.
Basu Sir you did not get what I meant.
Rs.4 lakhs is not the problem if you had previously participated in the eAuction you would understand.
the 4 lakhs you downpay is for just one site which you have to short list and bid you cannot bid for all the sites up for auction.
That one site which you are allowed to bid if you can outbid others then you win the bid.
Usually people would have shortlisted 3-4 sites if one site goes out of budget then they can try for the next short listed one.
Now to participate in all the 3-4 sites they need to shell out 12-16 lakhs which will be blocked for 1 month and if they win the bid they need to pay 25% of the total amount within 3 days this can be a strain to their cash flow.
This is what I feel can be tweaked.
Dear Ashok,
Yes, I understood what you are saying and also I know how the e-Auction conducted in BDA. The purpose of restricting to PER SITE is to make sure that you bid for that plot where you have an interest. This creates the participation of other people also. Better you first choose the site and bid only for that. At the end, as per me, there is a huge rush.