Source revealed at www.propertykhazana.com is that the main lands in Silicon City are on auction and offered at 80% discount prices. Rush! Limited Offer! This was the line at the auction in Garden City Urban Deputy Commissioner’s office where they have put many plots on sale with amazing low-priced tags. But, the sale had gone below the guidance costs. A property is spread in more than 30 acres in Tavarekere on the outskirts of the Bangalore city off Magadi Road fetched only Rs. 1.5 Crores and it was purchased by Ramaiah Reddy for just Rs. 5 Lakhs per acre and he registered it at RS. 20 Lakhs an acre as per to the guidance cost. Such sale was hold at the Income Tax Office also because certain low prices are fixed and here the sale continued and it fetched just Rs. 24 Crores for 102 acres of property.
As per the sources available to www.propertykhazana.com, one more 33.2 acres of plot was sold out to Rosin Developers for Rs. 2 Crores at Rs. 6 Lakhs per acre in Tavarekere. The purchaser got it registered at the rate of Rs. 25 Lakhs per acre. The auction rate is lower than 1/4 of the guidance value, but the truth is that guidance values of the land are higher than their market values. 3 pieces of property in Sarjapura Hobli measuring 2.1, 3.04 and 16.2 acres was sold for Rs. 1.71, Rs. 1.41 and Rs. 10.4 Crores correspondingly. In Jigani, 2 property plots were in auction and the 14 acres fetched Rs. 3.71 Crores and 2.2 acres was sold for Rs. 2.5 Crores.
Source: NIMMA BENGALURU
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