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gautam · 27-04-07

About two guntas of land in Jakkur village auctioned for Rs. 1.07 crore

• Sobha Developers offers Rs. 4.60 crore for 1.12 acres of land at Sampigehalli
• An individual bidder offers about Rs. 6 crore for two blocks of land

Bidders participating in the auction of government land seem to have finally loosened their purses. After a stingy Wednesday, just over an acre of land in Jakkur fetched Rs. 8.80 crore on Thursday, the second day of auctioning.
Although the first day of auction failed to meet the expected target, lands were priced much higher on the second day, and auction of 45.24 acres fetched the Government Rs. 41.84 crore, much higher than the guidance value.
Almost all successful bids placed by the buyers on Thursday were higher than the guidance value fixed by the Government. Thirteen blocks of land that were recovered from encroachment in Bangalore East, North and North (Additional) taluks were auctioned on the second day. A total of 550 acres of land recovered from encroachments in Bangalore Urban district will be auctioned during the five-day auction (barring Sunday) that commenced on Wednesday.

About 1.09 acres on survey number 101 at Jakkur in Yelahanka Hobli fetched the highest rate with Projin Developers succeeding in the bid with an offer of Rs. 8.80 crore. The guidance value has been fixed at Rs. 2 crore an acre by the Government. Another piece of land measuring about two guntas in survey number 101 at Jakkur fetched Rs. 1.07 crore, the highest bid made by S. Amar, an individual bidder, whereas the guidance value has been fixed at Rs. 2 crore an acre.
Sobha Developers succeeded in their bid with Rs. 4.60 crore for 1.12 acres in survey number 30 of Sampigehalli in Yelahanka Hobli. The guidance value in the area has been fixed at Rs. 1 crore an acre.
An official at the Legal Cell and Prevention of Unauthorized Construction told The Hindu that these lands fetched higher rate since the lands used had allowed formation of residential areas.
Hill Land Developers offered the highest bid of Rs. 9 crore for 5.07 acres in survey number 115 at Chennasandra in Bangalore East taluk. B. Premnath Reddy, an individual bidder, succeeded in securing two blocks of land in survey number 8 at Hucchanapalya in Bangalore North. He succeeded in the bids by offering Rs. 3.91 crore and Rs. 2.41 crore for 11.05 acres and 5.07 acres respectively.

Among the lands that received good response from the bidders were 10.11 acres in survey number 59 of Pillahalli that went for Rs. 5.06 crore, while the guidance value is Rs. 18 lakh an acre. Bangalore-based Umrah Developers which won four bids on Wednesday succeeded in getting two more on Thursday. It came up with the highest bid of Rs. 2.23 crore for 3.17 acres in survey number 36 at Kumbena Agrahara in Bangalore East and Rs. 1.75 crore for 2.24 acres in survey no. 56 at Doddabettahalli in Bangalore East. The guidance values have been fixed at Rs. 20 lakh and Rs. 60 lakh respectively.
The protest against the auctioning of government lands continued for the second day in front of the deputy commissioner's office.

27-04-07	#2
gautam New Member Join Date: Sep 2007 Posts: 37 Thanks: 0 Thanked 0 Times in 0 Posts	Auction of 45 acres of government land nets Rs. 41 crore on second day About two guntas of land in Jakkur village auctioned for Rs. 1.07 crore • Sobha Developers offers Rs. 4.60 crore for 1.12 acres of land at Sampigehalli • An individual bidder offers about Rs. 6 crore for two blocks of land Bidders participating in the auction of government land seem to have finally loosened their purses. After a stingy Wednesday, just over an acre of land in Jakkur fetched Rs. 8.80 crore on Thursday, the second day of auctioning. Although the first day of auction failed to meet the expected target, lands were priced much higher on the second day, and auction of 45.24 acres fetched the Government Rs. 41.84 crore, much higher than the guidance value. Almost all successful bids placed by the buyers on Thursday were higher than the guidance value fixed by the Government. Thirteen blocks of land that were recovered from encroachment in Bangalore East, North and North (Additional) taluks were auctioned on the second day. A total of 550 acres of land recovered from encroachments in Bangalore Urban district will be auctioned during the five-day auction (barring Sunday) that commenced on Wednesday. About 1.09 acres on survey number 101 at Jakkur in Yelahanka Hobli fetched the highest rate with Projin Developers succeeding in the bid with an offer of Rs. 8.80 crore. The guidance value has been fixed at Rs. 2 crore an acre by the Government. Another piece of land measuring about two guntas in survey number 101 at Jakkur fetched Rs. 1.07 crore, the highest bid made by S. Amar, an individual bidder, whereas the guidance value has been fixed at Rs. 2 crore an acre. Sobha Developers succeeded in their bid with Rs. 4.60 crore for 1.12 acres in survey number 30 of Sampigehalli in Yelahanka Hobli. The guidance value in the area has been fixed at Rs. 1 crore an acre. An official at the Legal Cell and Prevention of Unauthorized Construction told The Hindu that these lands fetched higher rate since the lands used had allowed formation of residential areas. Hill Land Developers offered the highest bid of Rs. 9 crore for 5.07 acres in survey number 115 at Chennasandra in Bangalore East taluk. B. Premnath Reddy, an individual bidder, succeeded in securing two blocks of land in survey number 8 at Hucchanapalya in Bangalore North. He succeeded in the bids by offering Rs. 3.91 crore and Rs. 2.41 crore for 11.05 acres and 5.07 acres respectively. Among the lands that received good response from the bidders were 10.11 acres in survey number 59 of Pillahalli that went for Rs. 5.06 crore, while the guidance value is Rs. 18 lakh an acre. Bangalore-based Umrah Developers which won four bids on Wednesday succeeded in getting two more on Thursday. It came up with the highest bid of Rs. 2.23 crore for 3.17 acres in survey number 36 at Kumbena Agrahara in Bangalore East and Rs. 1.75 crore for 2.24 acres in survey no. 56 at Doddabettahalli in Bangalore East. The guidance values have been fixed at Rs. 20 lakh and Rs. 60 lakh respectively. The protest against the auctioning of government lands continued for the second day in front of the deputy commissioner's office.