The government’s e-auction of 1 acre 36 guntas of prime land, next to Bengaluru-Mangaluru national highway, at a base price of Rs 1.9 crore though land prices are Rs 8-12 crore, was scrapped on the last day.
The assistant commissioner of Doddaballapur subdivision, Bengaluru Rural, had notified the e-auction schedule for the land at Mahadevapura village, off Nelamangala, on June 8. The base price for auction was fixed at Rs 1.9 crore and the bidders had to make an EMD (earnest money deposit) of Rs 19 lakh.
The last date for those interested to raise queries over the land was June 9, a Friday. The last date to confirm participation and pay the EMD was June 12. The e-auction was to begin at 10am on June 13 and end at 5pm on June 21, 2023.
However, several businessmen and officials said the land’s market value is Rs 8-12 crore per acre in the area. The land is next to a toll plaza.
“Only one day was given to raise queries about a land that was worth crores of rupees and three days, of which two were holidays, for the interested parties to confirm participation in the auction by producing DDs for the EMD,” a Bengaluru busiessman said.