Latest BDA Plots E-auction July – August 2020 – How to apply?

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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.

Latest BDA Plots E-auction July - August 2020

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.

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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).

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# 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.

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# 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.

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Basu Nivesh

Basu Nivesh

Basav is a SEBI Registered Investment Adviser (SEBI RIA) practicing the Fee-Only Financial Planning Service. He is a CFP (Certified Financial Planner) and blogger at Basu Nivesh. He services around 300+ satisfied clients.
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