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Bengaluru plot measuring just 840 sq ft sold for Rs 1.30 crore in e-auction!

  •   Sun, Feb 28 2021 09:54:55 AM

Daijiworld Media Network - Bengaluru (MS)

Bengaluru, Feb 28: In an e-auction of sixth phase of Bengaluru Development Authority (BDA), a plot measuring 840 square feet (78 square meter) was sold for a whopping Rs 1.30 crore.

The reason for this high bid was that this plot had fancy number 1000 and was touted as the best in terms of Vaastu features.

In order to buy this plot which is located on the third block of Sir M Vishweshwaraiah extension, 92 people bid for nearly one lac per square meter.

At the end, a person called Cheluvaraju finalized the auction by bidding Rs 1.67 lac per square meter. The interesting thing is that the base price of this plot was just Rs 30.42 lac.

After quoting the highest bid, bidder Cheluvaraju said, "Due to prestige issue and with the intention of getting the plot at any cost, I bid highest for the plot. Now I am having difficulty in paying the amount. So I will think once again whether to buy it or not."

  

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Comment on this article

  • Rashad, Manipal

    Mon, Mar 01 2021

    Side effects of Corona Vaccine!

    DisAgree [1] Agree Reply Report Abuse

  • ncmprabhu, kIERM

    Sun, Feb 28 2021

    why does BDA promote slums? these sites are too small just 20'by 40'. The area leads to congestion and overcrowding with cluttered drains and haphazard buildings . Better to build apartment blocks for the LIG and MIG prospects. On the olden days sites were huge BDA should follow a policy of a minimum size of 2400 sq ft sites .

    DisAgree Agree [11] Reply Report Abuse

  • ayes p., kudla/ksa

    Sun, Feb 28 2021

    Is he mentally sound?

    DisAgree [1] Agree [18] Reply Report Abuse

  • Valerian D'Souza, Udupi/Mumbai

    Sun, Feb 28 2021

    For Cheluvaraju, it was a prestige issue and with the intention of getting the plot at any cost, so he bid for it. If so how can he say now, I am having difficulty in paying the amount. So I will think once again whether to buy it or not? Is he of sound mind? Prestige over and above his capacity to pay?

    DisAgree Agree [16] Reply Report Abuse

  • Prakash, Mlore

    Sun, Feb 28 2021

    He can rent it to Vaastu Pundit for his office. If advertised well, people from all corners would come for consultation.

    DisAgree Agree [17] Reply Report Abuse

  • Monty Dotor, Mangalore

    Sun, Feb 28 2021

    If building setback rules are followed will any buyer be able to build anything worthwile in this plot?

    DisAgree Agree [16] Reply Report Abuse

  • j.anata, Mangaluru / Bengaluru

    Sun, Feb 28 2021

    Penalise the guy for hiking auction rates and now saying "I can't buy"

    DisAgree [3] Agree [47] Reply Report Abuse

  • Sadiq, Dubai

    Sun, Feb 28 2021

    He will lose his ernest deposit amount or atleast 25% of the ask price...nothing is free in auction and cannot get away easily without paying penalty fee..which will be around 10-12 lacs

    DisAgree [1] Agree [18] Reply Report Abuse


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Title: Bengaluru plot measuring just 840 sq ft sold for Rs 1.30 crore in e-auction!



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