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The Bangalore Development Authority (BDA) is facing a lacklustre response from potential buyers as it opts to auction corner sites to boost revenue. The primary reason for this tepid interest is the absence of geo-tagging, making it difficult for buyers to locate the plots.
The BDA, known for regularly auctioning sites for revenue, presented 123 corner and middle sites for auction across various layouts it had previously developed on October 16. However, these sites only exist on paper, and in an era where people rely on platforms like Google Maps for location information, many prospective buyers are struggling to find these non-geo-tagged sites.
BDA continues to use old maps, where as prospective bidders rely on Google Maps to locate the plots. They believe that should they decide to construct a home there, their friends and family will be unable to locate them due to this reason. Further, without being able to locate and personally visit the site, bidders are sceptical to go ahead with any purchase. Acknowledging the issue, BDA Chairman N Jayaram said that they are working with the concerned teams to address the issue as quickly as possible.
Some customers pointed out the challenge of locating places in a rapidly changing Bengaluru landscape. Interestingly, in February 2023, when the BDA auctioned sites, it allowed geo-tagging. Presently, the BDA is auctioning plots in various locations, and those interested need to enrol by October 31 for the auction. The first round of bidding will take place between November 2 and 3, followed by the second round between November 4 and 6. The initial bid starts at Rs 37,830 per square meter, with a maximum of Rs 1.77 lakh per square meter, translating to site costs ranging from Rs 49 lakh to over Rs 5 crore.
Realtors argue that geo-tagging would significantly help people locate plots using Google Maps, allowing even those residing elsewhere to conduct their research. On the contrary, BDA officials claim that they avoided geo-tagging to save costs. Currently, only 123 sites are being auctioned and so the BDA has provided contact details of the jurisdictional engineers whom interested customers can contact directly for more information.
The issue of geo-tagging and its impact on the BDA's site auctions remains a matter of concern for both authorities and prospective buyers in Bengaluru.
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