Bangalore Growth Authority (BDA) has give you new notification for e-auction of residential websites. The final BDA e-Public sale was occurred throughout Feb-March 2023.
Bidding / e-auctioning is usually a hassle-free strategy to personal a property, particularly if wish to keep away from any kind of black cash in actual property transactions.
Earlier than discussing the main points in regards to the Newest BDA E-auction Sep-Oct 2023, we have to perceive the distinction between BDA e-auction and BDA Allotment
Distinction between BDA Allotment and Public sale
BDA has to this point shaped greater than 60 layouts in Bangalore. Bangalore BDA maintains a seniority checklist of candidates who has utilized for websites in BDA layouts. After forming a format, BDA typically allots the plots primarily based on sure standards and lottery system. The e-auction course of is completely different to this. Any citizen of India can apply for public sale. There is no such thing as a lottery system. The highest worth bidder of a selected plot will win the public sale.
Newest BDA E-auction Sep-Oct 2023 Notification
The final date for making use of to BDA e-Public sale is 30-Sep-2023. Under are the main points of vital dates associated to this public sale.
- Graduation of BDA e-Public sale : 20-Sep-2023
- Date of Graduation of Reside Bidding: 03-Oct-2023
- Time limit of BDA dwell E-Public sale: 04-Oct-2023
The most recent E-auction is for websites situated at HSR Structure, Sir M. Visvesvaraya Structure, Banashankari and Anjanapura Structure.
BDA Websites On-line Public sale Phrases & Circumstances
- Applicant must be a Citizen of India
- NRIs & Partnership corporations can also take part within the public sale
- Applicant has to pay Rs 4 Lakh per website as Earnest Cash Deposit (Deposit quantity is refundable).
- Profitable bidder has to remit 25% of public sale quantity in 3 days.
You might obtain full particulars on Public sale Phrases & Circumstances from this hyperlink.
BDA E Public sale Course of
Your complete course of from bidding to Registration typically will get over in 2 to 4 months. The beneath course of circulation offers you clear thought about this;
If you’re keenly on the lookout for a property (vacant plot) for self-occupation and planning to quiet down in Bengaluru then chances are you’ll absolutely contemplate taking part in these auctions. However, don’t over-leverage your self by taking excessive dwelling mortgage quantity (if any). Additionally, advisable to not cross your finances restrict through the bidding course of.
Please word that you can be shopping for the public sale property by means of WHITE cash, chances are you’ll get a compliance discover concerning ‘excessive worth transaction‘, from the Revenue Tax Division for the respective Evaluation Yr. So, be sure you maintain all the knowledge associated to your funds / supply of funds, for future reference.
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(Put up first revealed on : 21-Sep-2023)