BDA sites through Auction

[mail2vivek]

Dear Friends,

I would like to know if any of the members or their relative bought BDA site through BDA e-Auction procedure?
Also buying site is cheaper than the market rates?
You feedback will greatly help in trying to buy BDA using e-auction procedure.

regards

Vivek

[Kumara]

Hi Vivek,

BDA auction sites purchase can be cheap or less than market price if you get the site at baseprice +5 or 10%.

I have found some sites being vigorously bid. For example HSR layout some sites are won at close to 2x of the base price
Other layouts like Jnanabharthi, kumaraawamy, hrbr etc going at over 1.3 to 1.5x base price

price per square feet has no logic, it is demand and supply. Plus once someone pays a higher price, that would become the base price. Very funny, but that is the reality

BDA direct allotment is anyday best. No issues on documents, loans etc.

hope this helps.

regards
Kumara

[mail2vivek]

Thanks a lot for valuable inputs. I will try to participate in bids if price of site at base price or +10%.

regards

Vivek Shenoy

[Radhika]

Has anybody here participated in BDA e-Auction? How has been the experience?
What is the process to register for e-Auction? Please let me know.

[Kumara]

e-Auction process is quite straight forward.
1) Create a login with the e-auction portal
2) Pay the EMD amount in Bangalore One
3) upload all relevant documents - PAN, Address proof etc
4) Once you log into the e-auction site, it would clearly tell you what are the pending steps before you are allowed to participate in the BID
5) Assuming you have successfully completed all the steps, you are all set to participate in the bid
6) Keep checking the price regularly and update the price-
7) Maximum action takes place on the last day of the auction especially after 2:30PM
8) If you have won the bid, someone from BDA would call you confirming the same. You have to pay 25% of the final amount to BDA. Subtract 4 Lakhs ( EMD) from the 25% and it is mandatory to transfer the amount through NEFT to IOB Branch which is close to BDA office in Kumara park.
9) Collect the confirmation challan from IOB and hand it over to the Finance Department in BDA
10) Within 4-6 weeks you will get a final letter that states the terms and conditions for the rest 75%. In all you will have about 50 days( including weekends/holidays) for paying-up the 75% amount
11) Until step 10, everything is very smooth
12) Registration process is quite complex and needs regular follow-ups, visits to BDA office. Maybe 5 to 10 visits needed and it depends on the case worker and needless to say bribe.

Net-net, the whole e-auction process is pretty straight forward and until the payment of full amount to BDA, it is fairly OK ( Finance department in BDA has a few unpleasant people). The registration process is quite a challenge - Need a lot of patience, willingness to bribe. I wondered if the people in BDA/SUb registrar office are not paid salaries. I got a feeling that they survive only on Bribe. Unfortunately, things DONT move with NO-BRIBE approach,

Hope this helps!

[suresh13]

Hi Kumara
Thanks for the information. I have recently bid a site and wasthe final bidder.
I have paid the 25% and in the process of getting loan for final amount.

About bribe, is it a must. If we dont pay the bribe, they cant postpne forever right?
What will be the delay in registration if bribe is not paid.

If bribe needs to be paid, I assume it will be multiple time and to multiple people.
Can you briefly mention what are the bibe amounts roughly.

Thanks.

[Kumara]

Ah Suresh. Like all other legal charges, I wish we had a checklist for bribe as well

Touts offer to take ownership (?) to get things "done". But after the recent raids, these guys are in trouble themselves. Ideally it should be one guy for getting the files moving within BDA and one guy in the Sub registrar office. would say about 15-25K all put-together, but never pay upfront. Would be good to know the bribe range from other members in this forum.

Good question if this can be perpetually postponed. I don't think so, but your life can be miserable - Imagine visiting BDA office continuously for a few months.

[PlotGuy]

You can get things done without paying any bribe. Obviously it is difficult and slow going. You need to

1) be able to speak Kannada reasonably fluently.
2) use the right spoken and body language indicate that you won't pay anything.
3) have a lot of patience.

A lot of people simply don't have the time and so choose the easier option of paying a bribe. If you have a 8-5 job, it is best to recruit an elder from the family who is willing to do this work for you. Elders get more respect
(rightfully so) in my humble opinion.

You could also recruit a good real estate lawyer who will take care of everything. This is the most expensive but the easiest route.

[satyagupta1603]

Hi Suresh

I participated in SEP-2013 e auction in east of NGFE layout . I won the bid also w/o any competition. Overall process is smooth .Once you complete all payments and surrender all challanas at FM section they will send you sample draft .You need to carefully read that and any corrections show it to them . This is very important .Latter you can give this in corresponding DS office and peon will give you some date written on post card .Then you have to followup with case worker (just go two days before ) to make sure everything is ready for registration .Photos also you need to take . No need to pay money there. Only thing after registration you need to followup for Pocession certificate .Latter BBMP office khata transfer on your name. Overall smooth process at BDA offcie and hectic process @ BBMP office. All the best.

-Gupta Kolluru

[suresh13]

Hi
Yes, without bribe its taking long time.
Now, after paying full,I have submitted all docs, including signed saledeed, photos, bank noc, etc., etc.,
In DS-1 offc they gave a card with date as 21 oct.

1.Now do I need to visit bda ofc again regularly or just go and check on 17/18th..
2.Will they again ask for any more documents?
3. If on 17th, they inform 21st is ok, what is the process ?
4.Since public is allowed after 3pm, should I go, wait at DS-1 ofc and get the person to registration ofc ? Is this smooth ? Will he come and register without bribe?

Till now, I haven' paid any bribe. Need to see how the step 3 and 4 goes..

regards
suresh