Mokila HMDA Auction

[Ryzen_renoir]

2 hours ago, idibezwada said:

veedi bokka...his argument doesn't have sanctity....atramlo konesi tarvata realize ayyi drop ayyi undochu kada...there is nothing wrong in the auction process...aina vedu 50K petti konnadu ante he thought its worth, then why do he care about the rest?

He is right in the sense that the deposit is too low and can lead to lot of irregularities 

Basically officials and brokers can conspire to hoard plots , if they dont win they will just put a high bid and drop out afterwards 

If the deposit is high enough , people will not think twice before dropping out. 

Deposit must be atleast 10% of the expected price

[idibezwada]

19 minutes ago, Ryzen_renoir said:

He is right in the sense that the deposit is too low and can lead to lot of irregularities 

Basically officials and brokers can conspire to hoard plots , if they dont win they will just put a high bid and drop out afterwards 

If the deposit is high enough , people will not think twice before dropping out. 

Deposit must be atleast 10% of the expected price

 my bad...its usually 10% of reserve price with this type of auctions...so in this case the base price is 25k per sq yard....so it should have at least been 7.5 lakh

[trent]

Just chill.

e 1 lac and 80k per sqyrd bids anni dummy.

evadu deposit pay cheyadu 😂 so the second bidder around 30k-35k vuntaru vella valle. 
 

this is how hmda mafia auctions work

[idibezwada]

17 minutes ago, trent said:

Just chill.

e 1 lac and 80k per sqyrd bids anni dummy.

evadu deposit pay cheyadu 😂 so the second bidder around 30k-35k vuntaru vella valle. 
 

this is how hmda mafia auctions work

thats not how a auction works...35k tarvata directga 1lakh bid untada...

[trent]

48 minutes ago, idibezwada said:

thats not how a auction works...35k tarvata directga 1lakh bid untada...

25% incremental anukunta. Actually 3 bidders vuntaru oka plot ki. In that 2 dummy

[idibezwada]

3 hours ago, trent said:

25% incremental anukunta. Actually 3 bidders vuntaru oka plot ki. In that 2 dummy

500 is the increment