Date:07/06/2007 URL: http://www.thehindu.com/2007/06/07/stories/2007060721220400.htm

Karnataka - Bangalore

Poor response to auction

Staff Reporter

Only two of the five blocks of land were auctioned

18 acres of land fetches Rs. 9.55 crore

Bidders did not participate in auction of three blocks

BANGALORE: Bidders developed cold feet to the auction of government lands, which were recovered from encroachers, on Wednesday with three of the five blocks that were put under hammer not tempting them.

The two blocks of land that were taken by the bidders fetched Rs. 9.55 crore to the Government.

Five blocks

Five blocks of land in Anekal, Bangalore North and North Additional taluks in Bangalore Urban District measuring just 50 acres had been put for auction by the Prevention of Unauthorised Construction Cell at the Bangalore Urban Deputy Commissioner's office.

Land auctioned

The cell on Wednesday was able to auction only 18.34 acres.

The first block of 14 acres on survey number 8 at Kannalli of Yeshwanthpura hobli in Bangalore North taluk fetched Rs. 7.35 crore with Hill Land developers succeeding in the bid.

The guidance value fixed by the Government in the area is Rs. 35 lakh an acre where as the bid price was Rs. 52.50 lakh an acre.

In the second block of 4.34 acres on survey number 13 at Sasuveghatta in Hesarghatta hobli in Bangalore North Additional taluk, an individual Shalini Reddy emerged successful with a bid value of Rs. 2.20 crore.

Guidance value

The guidance value is Rs. 30 lakh an acre while the bid fetched as much as Rs. 45.36 lakh an acre.

Bidders did not participate in the auction of 10.18 acres on survey number 237 at Indluwadi village and 12 acres on survey number 96 in Bagganadoddi village of Kasaba hobli in Anekal taluk and 9.15 acres on survey number 41 in Mattahalli village of Dasanapura hobli in Bangalore North taluk.