Date:05/06/2007 URL: http://www.thehindu.com/2007/06/05/stories/2007060518720300.htm

Karnataka - Bangalore

22.38 acres auctioned for Rs. 20.44 cr.

Staff Reporter

BANGALORE: Auction of 22.38 acres of land netted Rs. 20.44 crore on Monday, even as seven blocks of land out of the 19 put up for auction found no bidders.

About three acres of land in survey no. 32 at Ballur village in Attibele went for only Rs. 10 lakh when the government guidance value was set at Rs. 20 lakh an acre.

About 2.13 acres of land in survey no. 110 at Soppahalli in Kasaba hobli went for only Rs. 5 lakh, when the guidance value was set at Rs. 17 lakh an acre.

The big draws of the day were a block of 3.19 acres of land in survey no. 91 at Rayasandra village in Sarjapur, which went for Rs. 6.65 crore and a block of 1.36 acres of land in survey no. 6 at Kudlu in Sarjapur, which fetched Rs. 5.9 crore.

Both the lands went to B.K. Srinivas

Of the lands that found no bidders was a 12-acre block at Bagandoddi in Kasaba, the largest block in today's auction.

The Government on an average expects Rs. 1 crore an acre and if the bids are found to be less than 150 per cent of the guidance value, they would be rejected.

The next auction is slated for Wednesday.