BDA eauction Latest news: BDA Auctions 66 Plots Amidst Information Vacuum
https://www.eauctionsindia.com/blogs/bengalurus-land-grab-bda-auctions-66-plots-amidst-information-vacuum
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 What is BDA E Auction?
Successful Bidder: The EMD amount is fixed at Rs4. 00 lakh (Rupees Four Lakh only) per site and should be remitted along with the e-Auction fee.
Asansol Durgapur Development Authority (ADDA) began conducting e-auctions of land through the NIC Portal https://eauction. in in 2015, in accordance with the provisions of the Gov.
How to use BDA eAuction
Stage 1: Registration (for first-time users)
Step 1: Visit the Auction Portal on the E-Procurement Website
Step 2: Search for the interested sites
- On the Auction Portal, search for the desired sites by specifying the Department as "BDA" and Auction Status as "Live Auction." Please note that the details of available sites are usually published on the Auction Portal 3-4 days prior to the E-Auction opening date, as indicated in the E-Auction Notification.
Step 3: Download the Documents
- Download the necessary documents for your chosen site.
Step 4: Register on the Auction Portal
- Complete the registration process on the Auction Portal. Detailed steps with screenshots are available in the User Manual for Registration & Bidding.
Stage 2: Interest in Participation
Step 5: Express Interest in Participation
- Once registered, log in to the Auction Portal and complete the Auction Submission Summary, which involves five key actions. This must be done before the "Last Date & Time to express interest for participation," as specified in the E-Auction Notification: a) Pay the Auction Fee of Rs 1,000/- b) Submit the Auction EMD of Rs 5,00,000/-. Payment can be made online or offline, with payment details available in the User Manual. c) Confirm compliance with the General Conditions of Eligibility. d) Upload the necessary Auction Documents. e) Agree to the Terms and Conditions for Declaration.
Step 6: Participation in the Bid
- To participate in the bidding process, use the Auction Portal to search for your selected site. Log in, access Auction Management, select Live Auction, and click on Bid.
Step 7: Bidding Process
- You can adjust your bid amount as per the Bid Change Price. The bidding process will close as specified by the authorities in the E-Auction Notification. Please note that there is a five-minute extension for the last-minute bids in the E-Auction.
Stage 3: Process for Highest Successful Bidder
Step 8: Advice Letters to Successful Bidders
- Successful highest bidders will receive advice letters via email. If you don't receive the advice letter, you can calculate 20% of the site's value and remit it within the stipulated time. Alternatively, you can visit the BDA head office to complete this process.
Step 9: Remit 20% of the Total Cost
- The highest successful bidder must remit 20% of the total cost, deducting the EMD amount of Rs 5,00,000, within 72 hours (excluding bank holidays, if any).
Step 10: Payment of the Balance Amount
- After remitting 20%, the successful auction purchaser should pay the remaining 80% within 45 days of receiving the allotment letter.
Step 11: Documentation and Submission
- Following the payments, the auction purchaser must submit the Acknowledgment and TDS Certificate to the Finance Section.
It's crucial to emphasize that non-payment by a successful bidder may result in the forfeiture of the EMD and the cancellation of the allotment. It is essential to diligently follow the instructions and guidelines provided by the BDA during the e-auction process.
In summary, the BDA e-auction process for plots in Bangalore offers a convenient and efficient way to acquire properties in the city. By following the steps outlined in this guide, you can successfully participate in a BDA e-auction and purchase a plot in Bangalore. Additionally, organizations like Bangalores.Best can provide valuable assistance throughout the process, making the experience smoother and more accessible for buyers. If you have any questions or require further information, do not hesitate to contact us for personalized support in your BDA e-auction property purchase.
It is important to read the terms and conditions of the BDA E-auction platform carefully before participating in the auction. Also, ensure that you have sufficient funds and have done proper due diligence before bidding for a property.
