Manivannan strikes gold: Landmark auction swells BDA coffers by over ₹2,000 crore

Bengaluru

In a record-setting land sale, the Bangalore Development Authority (BDA) has generated ₹2,097 crore from a single auction, underscoring a dramatic turnaround driven by Commissioner Manivannan P’s leadership. The authority auctioned a 52-acre commercial parcel at Konadasapura, off Old Madras Road, fetching nearly ₹468 crore more than its initial valuation.

The high-stakes e-auction turned into a marathon, stretching beyond 20 competitive rounds as some of the country’s biggest real estate players struggled to keep pace. The final winning bid came from Hyderabad-based Srini Nirman Pvt Ltd, which quoted ₹2,097 crore—equivalent to ₹98,466 per sq metre or ₹40.13 crore per acre. This was first reported by the Deccan Herald. 

The auction marked a significant departure for the BDA, which traditionally limits itself to residential layouts and sites. For the first time, the authority put up a large commercial land parcel, a move that paid off handsomely. The plot, flanked by an 80-foot road on one side and the Hoskote–Whitefield Road on the other, attracted five bidders, including Brigade Group and Godrej Properties.

Ironically, the same land had remained unused for nearly two decades after an earlier proposal to establish a steel yard there failed to draw interest. The 52-acre parcel was one of three properties listed for auction on January 5. Two smaller plots in the same locality—measuring 2.19 acres and 1.31 acres and located near a waterbody—failed to receive any bids.

The windfall strengthens BDA’s ambitious financial roadmap. Under its plan, the authority aims to mobilise at least ₹10,000 crore by the end of the 2025–26 financial year. Revenue streams include bulk land and residential site auctions, collections from applications under the Dr Shivaram Karanth Layout, sale of flats, villas and civic amenity sites, and penalties collected under Section 38(D) of the BDA Act.

Senior officials credit the successful auction to a series of internal reforms rolled out over the past six months under Manivannan’s watch. These included wider publicity, greater outreach to institutional players and a strong emphasis on transparency in live bidding.

The BDA now plans to seek government approval on the utilisation of the funds, which are expected to bankroll major infrastructure initiatives, including new residential layouts in North and East Bengaluru and the proposed 2.1-km Hebbal tunnel project estimated at ₹2,215 crore.