The Hindu : Karnataka / Bangalore News : Rs. 17.79 cr. for 50 acres of land

Online edition of India's National Newspaper
Friday, Jun 01, 2007
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Karnataka

Karnataka - Bangalore

Rs. 17.79 cr. for 50 acres of land

Staff Reporter

There were no bidders for five blocks of land

BANGALORE: Just over 50 acres of government land in Bangalore Urban district that had been recovered from encroachers fetched Rs. 17.79 crore in the auction held on Thursday even as five blocks of land did not attract bidders.

The Prevention of Unauthorised Construction Cell at the office of the Deputy Commissioner conducted the auction.

Six blocks of land fetched more than 150 per cent of the guidance value fixed by the Government for the respective areas while the amount fetched by 17 blocks did not exceed the guidance value.

At K. Choodahalli village in Uttarahalli hobli, .03 guntas of land on survey number 83 fetched Rs. 16 lakh, 533 per cent more than the guidance value fixed for the area, and Avasarala Technologies succeeded in the bid. The amount worked out to Rs. 2.13 crore an acre where as the guidance value was Rs. 40 lakh an acre. A block of 17 acres on survey number 107 in Mylasandra in Begur hobli fetched Rs. 10.11 crore, 297 per cent more than the guidance value with Umrah Developers succeeding in the bid. The guidance value for the area is Rs. 20 lakh an acre.

No response

Bidders did not participate in the auction for five blocks of lands measuring over five acres at Uttari, Chikkakalur, Puradapalya and Bidarahalli.

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