Online edition of India's National Newspaper
Wednesday, May 16, 2007
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Online edition of India's National Newspaper Wednesday, May 16, 2007 ePaper |
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Karnataka
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Bangalore
Staff Reporter
BIDDING ON: Land recovered from encroachers being auctioned in Bangalore on Tuesday. — Photo: K. Murali Kumar
BANGALORE: The State Government auctioned nearly 73 acres of land, most of it in the green belt, for Rs. 29.53 crore on Tuesday. While blocks less than five acres netted more than the guidance value set by the Government, land extending to more than 10 acres fetched abysmally low prices. Thirty-seven acres and 26 guntas at Kenganahalli in Dasanapura hobli, Bangalore North taluk, went for only Rs. 1 crore while 18 acres and 27 guntas at Hunigere in Dasanapura hobli, Bangalore North taluk, went for Rs. 50 lakh. The guidance values were set at Rs. 18 lakh and Rs. 28 lakh an acre respectively. "These lands will be put up for re-auction as they have failed to fetch the expected price," M.A. Sadiq, Deputy Commissioner (Bangalore Urban district) told The Hindu . The auction of 1.08 acres of land at Mullur in Varthur hobli in Bangalore East taluk was put off after the High Court granted a stay. Ten acres of land in Survey No. 24 at Hunigere found no bidders. Twelve other properties, totalling about 20 acres in Krishnarajapuram and Varthur hoblis, netted a whopping Rs. 28 crore. The maximum bid was for 35 guntas on Survey No. 48, Kothnur village, Krishnarajapuram hobli in Bangalore East taluk. Raju Vignesh outbid others by bidding Rs. 4.66 crore for this block of land, when the guidance value was Rs. 1 crore an acre. The land is located close to the proposed expressway to the new international airport at Devanahalli. Most of the land auctioned is located in the green belt area. Those who eventually get the property have to restrict the land use to activities permissible in the green belt, which includes having educational institutions, hospitals and nurseries. The next round of auctions is slated for Thursday, and about 60 acres in Bangalore North (additional) taluk and Bangalore South taluk will be put up for auction.
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