BDA E Auction: How to use eAuction India
Latest News:
https://www.eauctionsindia.com/blog-details/cidco-housing-scheme-receives-lukewarm-response-only-22000-applicants-for-26000-homes
https://www.eauctionsindia.com/blog-details/bda-to-auction-150-residential-sites-on-february-17-but-key-details-missing
Latest Update: BDA Plots Eauction.
BDA Plots E Aution: Bangalore Development Authority has begun the e-auction of most of the RMV Phase II sites. This is the procedure for auctioning commercial stands in Lottegollahalli. Rs 2 lakh per square metre. The price is fixed. The auction takes place in the first week of January. Here are the details, including the rules and the sites’ areas. The e-auctioned sites will also not be cancelled.
Bengaluru: The Bangalore Development Authority (BDA) has determined a date for e-auctioning commercial sites at Lottegollahalli in RMV 2nd Stage. Rs 2 lakh per square metre. The rate has been fixed. The interested bidders to participate in e-auction will have to register their names before January 4. The e-auction will be scheduled on January 6 and 7 for direct bidding.
Sale and auction of these sites will be as per the guidelines of BDA Commercial Sites and Corner Sites Disposal Rules, 1984. The properties will be sold at auction as-is.
In 3,546 acres, 34,000 sites have been built. The price is Rs 4,900 per sq ft. You are derived from data below October 2023.
Contact: 080 2336 8435/2336 8036. For Bidder contact the official Website of BDA.
BDA to auction 25 villas in Hunnigere
The minimum price of the villa with a total built-up area ranging from 1,269 sqft to 1,804 sqft will be between Rs 76.50 lakh and Rs 1.11 crore.
BDA eauction Latest news: BDA E-Auctions 25 Plots
Bangalore Development Authority (BDA) Repeats Corner Site E-Auction, Aims to Generate Over ₹100 Crore
BDA E-auction refers to an online auction platform provided by the Bangalore Development Authority (BDA) in India for the sale of its properties. The BDA is a government agency responsible for the planning and development of Bangalore city, and it auctions its properties to generate revenue.
BDA E-auction is a transparent and hassle-free platform that allows interested buyers to bid for BDA properties online. The auction process is conducted entirely online, starting from registration to the final bidding process. To participate in the BDA E-auction, interested bidders need to register themselves on the platform and pay a registration fee, which is typically 10% of the reserve price.
About next bda e auction
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This has resulted in significant revenue and the accumulation of financial resources for the organisation. So far, approximately 9,000 plots belonging to BDA have been located, and the auction procedure is being carried out in stages.
check the eauction list here: https://eng.bdabangalore.org/e---auction.html
What is BDA E Auction?
- The Bangalore Development Authority (BDA) is responsible for urban planning and infrastructure development in Bangalore. Through e-auctions, BDA sells land and properties, often at competitive prices, making these auctions a valuable opportunity for investors.
- Purpose: BDA e-auctions aim to allocate land fairly and transparently while generating revenue for urban development projects. They cover various property types, including residential plots, commercial spaces, and industrial lands.
1. Eligibility for BDA E-Auction
- Eligibility: Bidders must be Indian citizens over 18 years old. Corporations and non-profit entities are also eligible.
- Required Documents: Individuals must provide proof of identity (e.g., PAN card, Aadhaar) and address, while entities need additional documents like certificates of incorporation and authorization letters.
- Registration: All participants must register on the BDA e-auction portal, which may involve verification by BDA officials to confirm authenticity.
2. BDA E-Auction Registration Process
- Step-by-Step Guide:
- Go to the BDA e-auction website.
- Complete a registration form with personal or business information.
- Upload required documents and submit.
- Verification: After submission, BDA verifies the information. Once approved, users receive access to their bidder account for participating in auctions.
3. E-Auction Schedule and Notifications
- Updates: BDA announces auction dates and property listings periodically. Subscribers can get notifications via SMS or email.
- Subscription: Users can subscribe to BDA's updates on upcoming auctions. BDA posts auction schedules on their website and official gazettes, and these details often include the property location, minimum reserve price, and auction dates.
4. Detailed Auction Procedure
- Process Flow: BDA e-auctions are real-time, online bidding events where registered bidders place offers. Each auction has a specified start and end time.
- Stages:
- Pre-Auction: Review the listed properties and make necessary arrangements, including financial preparations.
- Auction Time: Place bids against competing bidders within the timeframe.
- Closing: The auction ends at a specific time unless extended by BDA’s system (if a new bid is placed close to the deadline).
5. Bidding Requirements and Rules
- Bid Amounts: BDA sets a minimum bid amount, known as the reserve price, and increments. Bidders must raise bids by the minimum increment.
- Auto-Bid: BDA often provides an option for automatic bidding, where a set limit is chosen, and the system bids up to this amount as needed.
- Real-Time Updates: Bidders can track the auction status in real-time and adjust their bids as necessary until the auction ends.
6. Payment and EMD (Earnest Money Deposit)
- Earnest Money Deposit: EMD is a refundable deposit paid to demonstrate commitment to bid. It’s refunded if the bid is unsuccessful, while winners may have it applied to their purchase.
- Payment Methods: EMD can be paid online via the portal, usually through NEFT or RTGS.
- Submission: EMD must be submitted before bidding. Lack of payment disqualifies a bidder.
7. Important Documentation for BDA E-Auction
- Required Documents: BDA may ask for documents like identity proof, property clearance certificates, and past tax receipts.
- Verification: This step ensures the property title is clear of encumbrances and claims, making the auctioned asset legally sound.
8. Property Site Visit and Inspection
- Site Visit: Bidders should inspect properties before bidding to understand location, amenities, and physical conditions.
- Checklist: Examine access roads, nearby facilities, utility connections, and topography. BDA sometimes arranges open days for inspections.
9. BDA E-Auction Bidding Strategy and Tips
- Smart Bidding: Set a budget beforehand, monitor real-time bids, and avoid overbidding. Consider using the auto-bid function if available.
- Timing: Place bids strategically, often closer to the auction end, but beware of losing out if others have similar strategies.
10. Winning the Auction and Post-Bid Process
- Next Steps: Winning bidders are notified and must make an initial deposit within a few days to secure the property.
- Legal Formalities: Includes sale agreements, submission of legal documents, and payment arrangements. Delay in completing these may lead to forfeiture.
- Sale Agreement: The document outlines payment terms, transfer conditions, and timeframes.
12. Transfer of Ownership and Documentation
- Ownership Transfer: After full payment, the property is registered under the bidder’s name.
- Key Documents: Includes the title deed, BDA’s no-objection certificate, and an encumbrance certificate verifying that the property is free from legal liabilities.
13. Key Legal Considerations
- Legal Aspects: Ensure that there are no pending dues, disputes, or legal claims on the property. Consulting with a legal professional is advisable before bidding.
- Encumbrances: Bidders should confirm that BDA has cleared the property of past liens or mortgages to avoid legal complications post-purchase.
14. Challenges in BDA E-Auctions
- Technical Issues: Sometimes, online systems may experience delays or outages during the auction.
- Support: BDA offers customer service to address grievances and concerns, accessible through their contact options.
15. Cancellation and Refund Policies
- Auction Cancellation: BDA may cancel or reschedule auctions at its discretion.
- Refunds: Unsuccessful bidders are typically refunded within a specified period. In case of cancellation, BDA refunds EMD to all bidders.
