BDA E-auctioning of intermediate sites: Court orders to cease it
The Bangalore Development Authority has been creating waves in the city with its much talked about move of e-auctioning the intermediate sites, despite being opposed by the court. According to the BDA’s Disposal of Corner Sites and Commercial Sites rules, 1984, the authority is strictly restricted from auctioning such sites online.
The BDA’s decision to e-auction few residential intermediate sites on e-portals have taken away the state authorities by a storm. The reason of concern is that such sites should have been assigned to the needy ones, who have been in the que for a long time. Instead, the sites are being upheld for auctioning, for potential buyers.
What is E-Auctioning?
It is a method of negotiating through an online platform. In this method, suppliers are bestowed with the option to shape up their proposals depending on the market feedback. To add to its credentials, this method is regarded as one of the most lucid ways to supervise negotiations.
E-auctions are inclusive of both price and non-price parameters. Furthermore, by participating in an e-auction, a number of benefits can be availed by the participants. Transparent process, getting real-time market data, time management, and awarding of the contracts at a faster rate are some of the benefits of participating in an e-auction.
Sites proposed for re-auctioning
Around 90 sites in JP Nagar 8t Stage, HSR Layout, Kumaraswamy Layout, Domlur, Rajiv Gandhi nagar, Hal 3rd Stage, BTM Layout, Jnanabharathi and Kengeri have been auctioned on e-portals.
Out of the 90 sites declared, 52 sites are declared intermediate. The court ruled out that the applications are required to called by the general public only, however, BDA officials declared of not having any knowledge about such a ruling.
Impact of BDA’s decision
BDA’s call to auction intermediate sites have let many people in dash hopes, who, all this time have been waiting patiently for the allotment of such sites. The application for such sites will lean on seniority in regard to age, number of attempts, category and the yearly income of the candidate.
More than six lakh applicants have requested for BDA sites, and have been in the que for years, however, BDA has been been bit self-centred in allocating the sites. In its move as a real estate agent, BDA has auctioned certain sites with a clear eye for higher profit stake, overlooking the interest of the general public.
According to market sources, around 13000 intermediate residential sites are in line to get listed for auctioning by the BDA in the coming days. In addition to it, more than 1000 such sites will be listed online for-auctioning, similar to the last 2 years. Property consultants further corroborate that e-auctioning has turned into a profit-yielding real estate business for the BDA.
