Since 2012, BDA (Bangalore Development Authority) has been aggressively offering the plots for sale through e-auction. These are residential sites in well developed localities of Bangalore. Bidding is a hassle-free way to own a property in Bangalore.
It is a naked truth that in most of the property deals in India there is always a difference between the Registered value and agreed/market value.
So, this is a great news for those who want to fund the property deal through a home loan. Especially salaried individuals who want to avoid any sort of black money in real estate transactions.
Advantages of buying a BDA Plot/site through auction:
- The bidding process is completely online (it is like stock market trading)
- The process is transparent. You can view the bid prices quoted by the other bidders on the screen
- Most of the properties offered are corner plots
- BDA layouts are comparatively well developed with good infrastructure
- BDA Layouts have drinking water supply facility
- You can easily fund the property deal through home loan
- You are the first owner of the property
- No issue of black money. The entire property deal amount should be paid through Demand Drafts (DDs) or money transfers.
- No Agent or mediator involved in the process. The entire decision making process is in your hands
- Anyone in India (citizen of India) can invest in these properties
- Different plot measurements are available ( from 400 square feet to 4000 sq ft and above)
- You may win the auction at less than the current prevailing market price
- Auction notification has location and site map details. Hence it is easy to locate the property
Difference between BDA Allotment and Auction:
BDA has so far formed about 62 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.
Terms & Conditions:
- Applicant should be a Citizen of India
- NRIs & Partnership firms also can participate in the auction
- Applicant has to pay Rs 4 Lakh per site as Earnest Money Deposit (Deposit amount is refundable )
- Successful bidder has to remit 25% of auction amount in 3 days
Key points on E-auction process (how to create login id and participate in e-auction):
- Visit this link ( BDA’s e-auction website)
- Click on User icon
- Click on “New user : Register”
- Fill your personal and bank details
- Pay Auction Fees & Earnest Money Deposit of Rs4 Lakh (per site) online or through DD.
- If you do not win the auction then Rs 4 Lakh will be refunded to your bank account
- The successful bidder has to remit 25% of auction amount to BDA in 72 hours
- Generally BDA will give you around 45 to 60 days to remit the remaining 75% amount
- There will be Delta time of 5 minutes on the final day. The auction can go on till the time there is no new bid quoted before the end of the delta time (as shown below).
From Bidding till Registration- The entire process – Important Stages:
The entire process from bidding to Registration will get over in 2 to 4 months. The below process flow gives you clear idea about this.
BDA’s Latest e-Auction Notification 2017-18
Latest News : Click on the below image to view BDA’s latest e-Auction Notification details : BDA e-Auction December 2017 – January 2018 (last date for BDA e-auction is 03-01-2018).
Since 6 years BDA has been consistently issuing the e-auction notifications every quarter. I have participated in the e-auction in 2012. I have been keenly tracking all the auctions. Some bidders have won at the base price itself and some have won at crazy prices.
(The next step after property registration is “Khatha Registration”. Read my article on “How to get Khata Registration done?“)
Are you planning to buy a property in Bangalore? Do you want more information on e-auction process? Then, kindly leave your comments below and I will be more than happy to reply to your comments. Cheers!
Continue reading:
- How to apply for a residential site in BDA Kempegowda Layout?
- What is Mutation of Property?
- 5 ways of transferring your Real Estate Property!
Bangalore Development Authority : BDA e-Auction latest Notification details
Khatha Registration & Khatha Transfer in Bangalore
Bangalore Property Market Review
BDA Kempegowda Layout – Latest Notification (2018) – Details & Eligibility Conditions for Allotment of Residential Plots
Hi ,
After successful bidding and after paying 25% which includes EMD , will I be able to apply for loan in bank to pay BDA the rest of the 75% amount?
Regards,
Dear Lohith .. Yes, provided you have income eligibility. Generally it is an easy task to get home loan for BDA allotted or auction properties.
Kindly read : A Complete Guide to ‘How Banks Assess Your Credit Health’ | How Lenders decide whether to give you Credit?
I would like to share my experience with regard to the EMD refund. It has been 10 days since the auction was closed and I am yet to receive the refund. Worst still is the responses given by E-proc and BDA. Neither of them are least interested in refunding the money.
When the money is collected online what is the pain in refunding it immediately after the auction. 4 lakhs is not a petty sum. Anyways 4040(GST)+504.5 is a goner. Atleast they should have the decency to refund the EMD immediately.
I will never take part in another BDA e-auction.
Dear Yatish,
Sad to know this!
Probably, the BDA staff may be too busy with Elections duty!
Hi,
I have 30×40 site which is next to corner site which I think close to 20×30. Will I get any special treatment when they auction the corner site? if not, if I want to buy it what I can do to avoid going that into some else hand.
Dear Parangi,
Generally BDA goes for e-Auction of Corner sites. If it so, I believe that there wont be any special treatment / preference will be given to adjacent site owners. You may have to participate in the auction and win the bid..
If we purchase the bda corner site then can we convert the adjacent site from residential to Commercial. If yes whats the process?
Dear Kavitha ..Kindly note that all corner sites are not meant for commercial use, unless specifically mentioned during Auction sale. In case, corner site is a commercial one, one can apply for Khata amalgamation for two sites and can use for commercial purposes after getting due approval from BBMP/BDA.
I have a question about the EMD.
Let us say i win the bid for 1 crore. I need to pay 25% of that within 72 hours. So do i pay 25 Lakhs or do I pay 21 lakhs by subtracting the EMD amount ? if not , how much exactly would I have to pay and how the EMD is adjusted
Dear Chaithra,
EMD will be adjusted in 25% limit.
The remaining amount is generally payable in 45 to 60 days.
I have a 30 x 20 Site with built house in BDA in JP Nagar 8th phase. My next corner site is not allotted to anyone and will be auctioned. Not sure when?
I was told that the I would be given preference in auctioning since I have the neighbour site
Is it true?
Thank you in advance
Dear Revathi..If it is e-auction then there wont be any preferential treatment I guess..
Thanks, appreciate the reply!
Does that mean that manual auction is also possible?
Thanks in advance!
It can be possible, depends on how BDA wants to sell the plots (corner ones).
Thank you!
Hi Sreekanth, Thanks for the excellent Info.
Is there any criteria like income for applying to LIG or MIG or HIG category of sites?
Or anyone can apply?
Dear Kumar..For e-auction , there is no income wise categorization.
I have recently(23-01-2017) participated in the KHB bidding and there was no bidders i too didn;t bid but till date i have not recived my refund.
Hello Srikanth,
I did the research for years to know more about BDA auction. Your blog provided excellent information. Do you have any idea about when is the next E-auction scheduled by BDA?
Dear Sudheer,
Currently applications for next e-auction are being accepted, last date to submit an application is 26-dec-2016. Date of e-auction is 27th dec 2016. Kindly visit BDA website for more details.
Possess a BDA (CITB) corner site in Jayanagar (2800 Sft) taken in auction in 1973.
I was then given to understand that commercial activity which does not hinder others was allowed.
Is this understanding valid now for auction sites? Please clarify.
Dear Mitter Ji,
Should hold good.
Advisable to cross-check with any govt approved Architect/surveyor/BDA town planning officer.
Hi Sir, I had participate in E-auction held on 3rd Nov 2016. I couldn’t win the biding. But till date I didn’t receive my EMD amount back. Could u please help and advise. Wts the process for refunding and how long it would take etc…
Dear Tharikka,
Generally BDA makes online transfer to the account that you have provided in the application form. You may wait for few more days and then contact the BDA.
Hi Sreekanth,
As per BDA’s website, Eligibility to own a BDA site includes “Domicile of Karnataka for 15 years prior to date of registration” , but i can see in this article you have mentioned “Anyone in India (citizen of India) can invest in these properties”. I am a bit confused here, can you pls help me clarify my doubt bcz i want to purchase land in bangalore, but i don’t fullfill domicile condition. However, i am residing in bangalore since 5yrs.
Thanks.
Dear Raj,
The said clause is applicable for BDA allotments and not for E-auctions.
Hi
In a BDA bid if there is just one person should we bid at all or will the BDA give the site at the base price. Can you please clarify.
Thanks
Deepa
Dear Deepa,
Advisable to bid for Min bid price + one multiple raise in Bid price.
Kindly note that a bidder (besides you) can place the bid even at the last second also.
However, i have noticed that bids are won at minimum base price also.
Hi Sreekanth,
Thanks for the information. Won’t we know if we are the sole bidder or not on the cut off date for partcipation in the bid, ie one day before the bid so we can put the multiple raise. Or is it possible that there are interested bidders who will be silent and just bid and be visible in the last minute
Dear Deepa,
You get to see other bidders on the screen, only if they place bids.
Yes, it is possible that one can place a bid at the last second too. In that case, delta time comes into picture and other bidders get a chance to quote higher bid price (if any).
(This is based on my live e-auction experience which was around 3 years back)
Hi Sreekanth,
Thanks I understand the risk now. When the auction closes does BDA announce the successful bidder.
Dear Deepa,
Its displayed LIVE on the screen itself and the successful bidder gets the intimation (about successful bid + payments terms) via POST.
Dear all
If you need any help of property loan you can contact 9980007772 or 08042024480
Hi Sreekanth,
Your blog is very informative. Thanks so much.
My question is, i am citizen of India and wish to take part in BDA e-auction.
Let us say my Driving license, Passport, Aadhar, Voter’s ID contains my permanent address of native(out of bangalore) and while creating login on BDA website i enter in my rental Bangalore address, will there be any problem?
Is it mandatory to have current rental home address to be endorsed on one of the documents and then be uploaded? Your suggestion is welcome.
Regards,
Sondya
Dear Sondya ..I am not sure about this, kindly contact the BDA help line numbers provided in the notification Ad.
Kindly note that ‘address’ details are very important in auction process, as you will receive ‘intimation letter’ by post (if you win the auction).
Very kind of you. Thanks so much. I will check as per your suggestion.
Warm Regards.
Hi
Can you tell me when will the next BDA plot sale will happen?
A website information will be helpfull.
-Didan
Dear Didan..I generally try to update the details of latest notification as and when the BDA releases the e-auction notification. About next auction, when is it? i do not have answer.
Hi.. since a very long time.. I dont see any site being put for sale.. has the eAuctions closed? or is it still running?. The eAuctions PDF or sale offering I saw was around March 2015.
Dear Hariharan,
The recent auction happened during 2nd week of July. I have updated the above article too with the latest BDA e-auction notification.
Dear Sreekanth,
Last 10 years i am staying in bangalore, and i have proof of SBI Bank pass book (opened on 2006).
am i eligible for apply BDA e-Auction.
can you please clarify.
Thanks
Sivakumar S
Dear Sivakumar..I believe that any Indian Citizen even NRIs are eligible for bidding in e-Auction.
Thanks Sreekanth…
Hi Sreekanth,
I am residing in bangalore from the last 18 years.
Am i eligible for BDA allotment or e-Auction.
I could read the eligibility criteria as 5 years.
Also it says that if we have a house, we are not eligible for this.
i do not have any and I stay in rent house , but want to know more on this,request to do needful.
Regards,
Padmapriya.
Dear Padmapriya,
Yes you can apply for BDA site allotment or for BDA e-auctions.
You can own house but that one should not have been allotted by govt bodies.
Hi,
I am residing in Bangalore from the last 7 years.
Am i eligible for BDA allotment or e-Auction.
I could read the eligibility criteria as 15 years.
Also it says that if we have a house, we are not eligible for this.
i do not have any, but want to know more on this.
Regards,
Krishna.
Dear Krishna..You can participate in BDA e-auctions..
Thank you Sreekanth.
How about eligibility for BDA allotment.
Am i eligible for this. I mean is there an eligibility and may be least priority over others.
Or am i not eligible to apply itself.
Dear krishna..Should have lived in Karnataka for a Min period of 15 years or more..
Hi Sreekanth,
Thank you for the information.
Really appreciate your help.
Regards,
Krishna.
Hi,
In BDA website there s a new option in home page and it says APPROVED DEVELOPMENT PLAN, when we click for the link a new PDF opens, names in PDF are they making layouts or what s that regarding about.
Dear Rohan..even I am not sure about this..will get back to you if I find more info..
Srikanth, Do u know when is the next BDA eauction planned
Dear mahesh..I am not sure and no idea. BDA aggressively conducted e-auctions from 2012 to 2015. So, I doubt if they will come up with any further e-auctions.
But we may see allotment notification for Phase-2 of Kempegowda layout in the near future.
Hi Sreekanth,
Are there any websites where we can register ourself to know when there s any auction or layouts that will be conducted by BDA, ie Kempegowda layout or e auction , BDA flats.
I mean, any website where we get e email, stating the different activities by bda
Regards
Rohan
[email protected]
Dear Rohan..No such facility available. But you can subscribe to our FB page, as we generally keep posting new updates related to real estate topics too. (or) you can check this article too once in a while.
Hi Sreekanth,
I was born in India and was an Indian citizen but 5 years ago I became a Canadian citizen and now I have OCI (Overseas Citizen of India) status. Am I eligible to bid in the auction?
Thanks in advance.
Raghav
Dear Raghav..I believe that you are eligible to participate in the auction. But do try to re-check this with BDA also.
Hi Sreekanth,
Recently(4th Jan 2016) I happen to be top bidder, I want to know exact procedure to pay 25% amount to BDA and available or best/safe option. Few qns like Can I pay through RTGS from any SBI bank branch from Bangalore? do they except cheque ?
Please reply it would be of great help!
Thanks,
Kiran
Dear Kiran,
You can pay through RTGS ( I had paid through rtgs only) from any bank to BDA bank account. After that you may have to visit BDA bank branch and get the challan with the details of your RTGS transfer (stating that they have received the monies).
You have to submit this challan at Finance/Accounts section of BDA head office. After that you will receive detailed procedure via registered post about the next steps & time-line.
I believe that they do not accept payments through cheque mode.
Thanks Sreekanth!
Hi Sreekanth,
for the new BDA sites allotment announced by BDA for Kempegouda BDA Layout and invited applications. I am new to bangalore/Karnataka and completed 6 years only in Karnataka (bangalore). Can I apply for this BDA sites ? Can you please suggest. Because I heard to apply for BDA sites, we should have 15 years domicile of Karnataka.
Dear Venkat..replied to your email, kindly check.
Pls let me know the rate at OMBR layout ?
What is the income limit for OBC cat-1 to get BDA site ?
Pls let me know the rate at OMBR layout ?
Hi Sreekanth,
BDA e-Auctions advertisement, looks for attested KYC documents.
Is it necessary to have these documents attested, at the time of uploading while creating the account.
OR we can submit the attested copies later, once we are a successful bidder.
Thanks
Puneet
Hi Srikanth,
I would like to know some more details on this,
1. Is it profitable??
2. What would be the max amount that has paid for a plot as of now?
Thanks
Jeemol
Dear Jeemol…Depends on location, bid price, prevailing market rates and your investment horizon.
Also how does the online Katha registration works? And how much time it takes to get Katha?
Thanks
Bala
Dear Balu,
As per my experience, online katha application may be processed in 30 days and offline in 15 days.
Hi Sreekanth,
Thanks for Very detailed and useful information. I have two questions.
1. If I don’t win the bid, how much time BDA takes to deposit my EMD amount to my account ?
2. Do you think e-auction is completely transparent? Hope there is no corruption / wrong doing in this e-auctioning also?
Dear Vikrama,
1 – You will get the entire EMD amount.
2 – The online process is transparent. There can be some challenges after wining the bid and when have to face the staff. (hope you are able to get my point ). But my experience with online auction process and with BDA staff has been very good. No issues at all. I have not paid any bribe too.
Hi Sreekanth,
I would like to participate in future BDA auctioning. Please let me know if you come to know about BDA biddings in future. Since we will be the first owners no need to have any documents check/lawyers opinion etc? How smooth is the process for NRI’s?
Thanks,
Sanjay
Dear Sanjay,
I generally try to upload and publish the latest notification in the article, so you may track the update on my blog.
(or) You may visit www. bdabangalore .org to know about latest eauction details.
Thanks Sreekanth. Sure, I shall follow this blog regularly. But can you answer my other questions like document verification and hassles for NRI’s like document submission or exchanges etc. However my parents are in Karnataka and can be helpful.
Dear Sanjay,
Till last month, we all thought BDA site or BDA’s auction site is as good as GOLD. But, its been found that BDA has encroached few lakes & Lake beds, and developed layout,and eventually allotted plots.
You may Google about this topic. So, anything and everything can happen in India.
Nevertheless, investing in a BDA site is still the best and safest way. I personally participated in e-auction in 2012 and won the bid. I also heard that the whole process is smooth for NRIs too.
Yes, your parents have to visit the selected layout / location, find out about the past history of the place etc.,
Thanks for the info. Tc
Hi Sreekanth, I came across your Id from relakhs.com. Thanks to clarify my below query.
I need a clarification. To have more chances lets say, one decides to register and pay EMD for more than one BDA auction site, however person’s intent is to get only one site.
for example. Lets say one registers and pays EMD( show interest of participation) for sites 1, 2,3. ( priority order as well)
This person lucky enough he is the highest bidder for site 1 itself. And this person DID NOT put any bid during the process for sites 2 & 3.
Consider the case for site 2 & 3, there was no other participant( no one showed interest of participation as well). Will eproc/BDA consider this person as the highest bidder for sites 2 & 3 as well, just because he is the only one showed interest for participation for sites 2 & 3.
Could you clarify this?
Dear Anith,
You have to pay the bidding price for site 1 and the minimum bid prices for sites 2 and 3.
Also, you may not get back your Deposit amounts (Rs 4 Lakhs for 2 & 3 sites). BDA may also take legal action (if required).
Thanks for the clarification.
Legal action for what? not clear …. not bidding for site 2 & 3.?
In a scenario where more than one person showed interest for a site and none increased the bid. In this case what happens? Will all lose EMD? cant be isnt it..,
Dear Anith,
I believe there is a small misunderstanding here..
Bidding does not mean that you have to enter new price. If there are no other bidders, site will be allotted to the sole bidder at the base price only.
In a scenario where no one quotes the bid price, I believe the decision to award the wining bid is left to BDA. The unsuccessful bidders will receive the refunds (EMD amounts).
Hello Sreekanth,
I need one more information about the BDA Sites. I had recently been to visit the BDA Site and the site which i visited has some SWD area. The site is facing East and towards the West facing it has some SWD area. What is this SWD used for? Is this for only Rain Water? Or it can be used for sewage water later on? Please Comment.
Thanks,
Padmashri
Dear Pradmashri,
If I am in your place, I will avoid buying that site.
Hello Sreekanth.
May i know the drawbacks of that Site.
Thanks,
Padmashri
Hello Sreekanth,
We are not able to take any decision as we don’t have any idea on SWD. How bid can SWD area be? The SWD area behind the site which is left is very small may be around 3 to 4 feet in width.
Thanks,
Padmashri
Dear Padmashri,
One of my friend had bought BDA site with front side of the site facing SWD (storm water drain). SWD is a 5 feet wide one. He spend around Rs 5 lakhs to cover it with concrete slab. The plot is vacant. Last year due to heavy rains, there was some problem with that SWD line. BWSSB guys had opened the drain and now it is still left as an open SWD. This is real life experience.
Hi,
Thanks for the information, In our case SWD is behind our site and currently it’s of 4feet wide and there is a gap of 5 feet between our site and the SWD and its in open condition.
Our concern was will this SWD size will be increase in future or it will be of same size?
I even hared from local people who stay near by site that a plan to close this SWD with concrete slab is sanctioned but work is not done yet.
Dear Padmashri,
Whether BDA will increase the width of SWD or not, we can not assume anything on that. You and me know very well as to how most of the govt institutions function. You yourself have given an example on this (in your comment).
Hello Sreekanth,
Can i get this information from somewhere or from some docs? Will this be mentioned in the BDA Layout Plan?
Thanks,
Padmashri
Dear Padmashri,
You can get layout master plan either from a local resident BDA engineer or from any popular (experienced) real estate firm in your locality.
Hello Sreekanth,
I need one more information about the BDA Sites. I had recently been to visit the BDA Site and the site which i visited has some SWD area. The site is facing East and towards the West facing it has some SWD area. What is this SWD used for? Is this for only Rain Water? Or it can be used for sewage water later on? Please Comment.
Hi Sreekanth,
Excellent information and nicely shared.
I am the highest bidder for one of the corner site. And going for the bank loan, just want to check how different is the loan process for BDA e-auction.
With the confirmation of bid what other documents (NOC, layout plan, so on) will i get? Or how to get these documents from BDA?
Best Regards
BK
Dear Balu,
Congrats!
Thank you for the appreciation.
Within 72 hours you need to pay 25% of the bid amount. After that you will receive ‘Bid confirmation’ letter (mostly within 7 days). Along with it, BDA will issue ‘NO objection letter’. You can use these two documents to get home loan from any Bank. If you are eligible (income-wise), your home loan may be sanctioned ASAP (i think within 7 to 10 days).
You Bank will pay the remaining 75% (assuming this is your home loan amt). You will get ‘appointment date slip’ to REGISTER your property. On the registration day you get ‘possession certificate’ and Registered Sale Deed, which you can submit it to your banker. (Location map document is generally sent by the local BDA engineer to the head office).
After this process, your banker may ask for Khata Registration for the property.
Thanks Sreekanth for the information.
You mean Location map document is the layout plan? And how will i get this document?
Regards
Bala
Dear Balu,
Generally location map or site map (with layout plan)is submitted by the respective BDA Area Engineer to BDA Head office. You don’t need to do it. In my case, when i contacted HSR Layout BDA officer, he said that the location maps for all the auction sites will be sent to Head office.
Do all the Banks In India Offer the Home Loan for BDA Corner Commercial Site?
Dear Ratheesh ..I believe that they provide home loan. But one can get it or not, depends on his/her income levels and other factors.
Hi, Sreekanth,
BDA called for e auction again. I just wanted to know if I bid for multiple site by paying 4L DD separately. Bid one site for the highest, can I transfer the other EMD amount to the one I had won. This will help in choosing the lowest priced site to buy. Or having a choice to choose.
Dear Suresh,
I do not think any such ‘transferring’ facility is available. Anyways, you would be getting the refund of Earnest Money Deposits right? That amount you may use to buy the site (if you win the auction for one site).
What if you win the bids for multiple sites? Are you aware of the challenges or consequences?
All the best for your online auction (assuming you are going to participate..:)
Hi Sreekanth,
I have read your comments in this blog. All are very informative and helpful to common man. Thanks to you!!!.
I looking to participate in next e-auction in BDA. It is good if you share the details about how to register or how to get Notary / Gazetted officers signature.
Also I read in some articles, Digital Signature is must to participate in e auctions.
Please sharey.
Regards
Manjunath
Dear Manjunath,
Thank you for your appreciation.
I have clearly mentioned in the post about the e-auction registration procedure.
For latest notification you may keep checking BDA’s website – http://www.bdabangalore.org/.
Click on “View e-Auction details (NEW)” for the latest e-auction notification. Your specimen signature along with a photo should be attested by a Public Notary. It is not a complicated procedure. I believe digital signature is not mandatory. I had participated in BDA online auction in 2012. There was no concept of digital signature then. Even the lates BDA’s eauction notification does not mention anything about digital signature.
Hi,
I am looking for a BDA Site and near the site which i am interested there is some CA land left free from BDA.
What is this CA Land? For what purpose this can be used by BDA?
Thanks,
Padmashri
Hi,
I am looking for BDA Site and the site which i am interested is near some CA Land.
What does CA land means? For what purpose this CA Land can be used by BDA?
Thanks,
Padmashri
Dear Padmashri,
Happy new year. Nice to see you back.
CA stands for Civic Amenity. BDA can allot CA sites (Civic Amenity sites) to educational institutions or government offices or trusts etc., They generally invite applications from appropriate institutions (sometimes private individuals) to use CA sites.
If the site which you are looking for is a BDA allotted site then no issues with that particular site. But about the adjacent CA site, we can not be sure of its allotment.
Hello,
Thank You, Wish you the same.
Yes the Site which i am interested is around half km from CA Land.
My concern was that whether that CA land be made as graveyard later:)??
Thanks,
Padmashri
Dear Padmashri,
How can you be so sure about the usage of CA land for a specific purpose? You can approach a good lawyer and if possible get some information about that CA land.
Hi,
I came to know about CA land usage from some brokers, and I am not sure of its usage by BDA. I wanted to confirm is this a just rumor or is it possible that BDA can allot that CA land for Graveyard. Please let us know how can I confirm this information.
Dear Padmashri,
I can not comment on the future usage of a CA land. Request you to approach a good local resident lawyer. Cheers!
Hi,
Is it safe to buy a site at BDA’s eAuction? Is it ligal?
Padmashri – I assume you are talking about the legality of the title documents? A plot purchased through a BDA auction is considered to be the safest way of owning a plot. Kindly consider corner plots only. It is legal.
Hi,
Is it safe to buy a site at BDA’s eAuction? Is it ligal?
Hi,
The question of buying site at auction came into my mind bcoz few days back i had read an article in thehindu:
Whats the risk if i buy dont buy a corner site in the auction and construct the house.
http://www.thehindu.com/news/cities/bangalore
/beware-of-buying-bda-plots-in-an-auction/article5012957.ece
Padmashri – As per The BDA (Disposal of Corner Sites and Commercial Sites) Rules, BDA can auction only the corner plots. And intermediate plots they can only allot. So, buying a corner plot through e-auction is legal. I personally purchased one corner plot through e-acution.
Hello Sreekanth,
Thanks for the reply.
Since i am presently searching for a BDA Site and when i enquired the owner says that the site was bought in an BDA auction and his the site is intermediate site.
Padmashri – If you are not in urgency then suggest you to participate in the next auction. You can be the first owner of the property. In the last one year, bda has conducted the e-auctions atleast once in every quarter.
Hello Sreekanth,
Ya sure i will try that:)
But is that sire a ligal one or he is lying?
And also when can we expect the next BDA auction?
How will i come to know?
What are the things i need to keep ready for the auction?
Padmashri – There are many buyers who bought intermediate sites through auction. Many are ignorant about the rules. The Karnataka high court has mentioned that BDA can not auction the intermediate sites but can only allot. You can keep a track of it by visiting http://www.bdabangalore.org/. (Click on “View e-Auction Details” option). Also, BDA issues notification Advertisement in all the leading newspapers.
Hello Sreekanth,
Just know i checked the path which you have mentioned and i think this site is not updated for a years:)
Still the site shows about 2012 auction.
Another opinion which i want to know is whether i should proceed with that site or no?
Padmashri – I think you would have clicked on “e-auctions” link. Visit the “view e-auction details new” link for the latest notification details. Regarding your shortlisted site, it is advisable to consult good lawyer before taking the final call. All the very best!
Hi Sreekanth,
Great work buddy. Indeed you have put all the relevant information about BDA e-Auction process.
I have one question: What happens to the EMD money once the complete amount is given to the BDA? Will BDA return the EMD money after getting the full amount for the auctioned site?
Regards,
Rajan
Rajan – EMD amount is deducted from the total auction amount to be paid. If you do not win the bid then it is refunded to your bank account.
Thanks Sreekanth.
Another query : Can a single person bid for multiple sites? If so, should the EMD for each site be deposited before bidding?
-Rajan
Rajan – Yes, you can bid for multiple sites. You have to pay EMD amount for each site.
Hi.. thanks for the details.. i also wanted to share my experience when i was trying to bid for August 5th auction.. i was intrested in a plot in Nagarbhavi & personally inspected the plot .. spoke with few real estate agents about the running price their.. so i decided i will bid for this particular plot… hence i got myself registered for one of plots in Nagarbhavi by paying Rs.500 and got notary signature on required documents… on sunday(3rd aug) afternoon, when i was went to eproc portal to upload the documents, alas i dont see that particular plot from auction page i.e. that plot has been removed .. likewise i cross refer & find that out of 73 plots for auction, only 65 plots were visible in eproc portal and open for bidding.. as i did not have enough time to inspect other plots.. i did not participate in the auction process.. i also mailed to ‘registrar’ & ‘[email protected]’ to know about the reason for sudden removal of auction plots – 1 day before the closing time but have not yet received any communication ..
Raghav – Thank you for sharing your experience. Sad that you could not participate in the auction. Try sending your email to [email protected].
Sreekanth , any idea about the next bda auction dates?
Hi Nitin. Last auction was completed on 5th-August. Normally BDA will take atleast 1 month to complete all the formalities of an auction (like evaluating,finalizing the bids etc.,). Expect next auction after a month. BDA publishes auction notification in all the leading newspapers. Or you can keep a track of it by visiting http://www.bdabangalore.org/. (Click on “View e-Auction Details” option).
If I win the auction and do not pay the required 25% amount in 3 days then what will happen?
Sravya – For any reason if you do not pay the 25% of auction amount in 3 days then the Earnest Money Deposit of Rs 4 Lakh will be forfeited. BDA may allot the site to the second highest bidder.
Superbly portrayed. Always been dreaming of owning a plot in HSR will get in touch with you in the later part of the year. Thanks for the article and keep the good work going.
Amith – Hope your dream will come true soon. (You may opt to reply to your earlier comments only, all your comments will be shown under one thread).
Thank you!
Hi Sreekant,
Awesome work dude ..after seeing this I feel its quite easy for a comman man also to bid these auction sites. Some of them in KSL area are very near to my home.
Problem with this is as Anil highglighted full white amount. Anyways will get in touch with you in the later part of the year to discuss as I have always been eyeing to own a plot at HSR.
Thanks,
AG
Amith-Thank you for the comment. You can contact me anytime.
Sreekanth, if the entire auction amount is to be in white then the stamp duty and registration charges will be high ?
Anil- Yes, the stamp duty and registration fees are to be paid on the entire auction amount. As of now it is around 6%.
Wow! What an article and useful information. This kind of information on a real estate topic is rare to find. I will contact you regarding the locations. Give me your email id plz.
Thank you Sujan for the comment. You can reach me at [email protected]
Thank you Sreekanth