₹2,097 crore in one stroke: BDA’s rare commercial land auction sets Bengaluru record

BDA earns ₹468 crore more than expected by auctioning a 52-acre commercial plot in Konadasapura, marking its first major move beyond residential land sales.

In a single high-value transaction, the Bangalore Development Authority (BDA) has generated a massive ₹2,097 crore by auctioning a 52-acre commercial land parcel at Konadasapura, located off Old Madras Road. The deal has emerged as one of the most significant land auctions conducted by the authority in recent years.

The final bid exceeded the BDA’s internal estimates by ₹468 crore, reflecting strong market demand for large commercial land parcels in east Bengaluru. The live e-auction witnessed intense competition, stretching beyond 20 rounds of bidding, with even established real estate players finding it difficult to stay in the race.

What makes the sale notable is that the BDA, for the first time, auctioned commercial land on such a scale, moving beyond its traditional role of developing and allotting residential sites. The property attracted five bidders, including well-known names such as Brigade Group and Godrej Properties.

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The 52-acre plot enjoys strategic connectivity, with an 80-foot-wide road on one side and the Hoskote-Whitefield Road on the other, adding to its commercial value. After prolonged bidding, Hyderabad-based Srini Nirman Pvt Ltd emerged as the highest bidder, quoting ₹2,097 crore. This works out to ₹98,466 per square metre, or approximately ₹40.13 crore per acre.

Interestingly, the land parcel has a long history. Around two decades ago, the BDA had proposed setting up a steel yard on the same plot, but the plan failed to take off due to lack of interest. The land was among three properties put up for auction by the authority on January 5.

However, the response was not uniform across all listings. Two smaller plots measuring 2.19 acres and 1.31 acres, also located in Konadasapura but closer to a waterbody, failed to attract any bidders.