Bareilly Development Authority Auction Garners Record Revenue of ₹125 Crore
Bareilly Development Authority sets a new record, earning ₹125 crore from plot sales in its mega auction.
बरेली उत्तर प्रदेश | इज़हार आलम
Record Revenue from BDA Auction
In line with Chief Minister Yogi Adityanath's vision for urban development, the Bareilly Development Authority (BDA) has set a new benchmark through its mega auction process. The authority has achieved a record revenue of ₹125 crore from the sale of plots in the Ramganga Nagar and Greater Bareilly residential schemes.
This significant achievement was realized under the guidance of Divisional Commissioner Shambhu Kumar and the leadership of BDA Vice Chairperson Soumya Pandey. The auction process, which commenced at 12 noon on November 3rd, extended for over sixteen hours due to overwhelming investor interest. The competitive bidding continued until 4:30 AM the following morning.
Investor Enthusiasm and Project Highlights
A total of 283 applicants participated in this transparent bidding process, submitting bids for 106 plots. The Ramganga Nagar and Greater Bareilly residential schemes, featuring modern amenities, are strategically located. Both projects are directly connected to the Delhi-Lucknow Highway and Bisalpur Road.
Accessibility to the airport, railway station, and bus stand is highly convenient, with travel times ranging from just ten to twenty minutes. The BDA is developing world-class infrastructure in these schemes, including 18 to 45-meter wide roads and underground cabling, which will imbue the area with the character of a modern metropolis.
Incentives and Future Plans
To attract allottees, the Bareilly Development Authority has arranged special incentives for payment. Allottees making a lump-sum payment will receive special discounts based on the payment period. These include a 6% discount for payment within 45 days, 5% for 60 days, and 4% for 90 days.
Vice Chairperson Soumya Pandey described this record revenue as a testament to the public's trust. She stated that these funds will be utilized to develop Bareilly city into a modern and well-planned metropolis, thereby strengthening the city's basic infrastructure.
This auction also signifies the successful implementation of BDA's ambitious projects and the growing confidence of investors in its development initiatives.