BIADA adopts auction process for industrial land allotment
"This marks a transformative shift in how we approach industrial development in Bihar," said Kundan Kumar, MD of BIADA.
One of the land bidders in BIADA's project clearance committee (PCC) meeting started the bid with Rs 36 lakh, which went up to Rs 55 lakh and finally settled at Rs 65 lakh for land allotment carried out through an open auction process for the first time ever.
The healthy competition between investors highlighted the market's confidence and the effectiveness of BIADA's evolving approach, Kundan said.
Kundan emphasised that this is just the beginning. "We are preparing to take this entire process online. Soon, entrepreneurs from any part of the globe will be able to bid for industrial land. This is part of our larger push for digital transformation and more inclusive participation. Bihar is open for business. Opportunity is now just a bid away," he said.
"The auction, conducted seamlessly, ensured full transparency and equal opportunity.
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It wasn't just about fairness — it revealed real market demand and generated double the expected value for the state. Today, Bihar isn't chasing investors. Investors are chasing Bihar under the visionary leadership of CM Nitish Kumar and the energetic push of industries minister Nitish Mishra," the MD said.
Patna: In a major shift from the traditional 'first-come, first-served' system, Bihar Industrial Area Development Authority (BIADA) adopted a transparent and competitive auction model for allotment of land on Thursday.
"This marks a transformative shift in how we approach industrial development in Bihar," said Kundan Kumar, MD of BIADA.
One of the land bidders in BIADA's project clearance committee (PCC) meeting started the bid with Rs 36 lakh, which went up to Rs 55 lakh and finally settled at Rs 65 lakh for land allotment carried out through an open auction process for the first time ever.
The healthy competition between investors highlighted the market's confidence and the effectiveness of BIADA's evolving approach, Kundan said.
Kundan emphasised that this is just the beginning. "We are preparing to take this entire process online. Soon, entrepreneurs from any part of the globe will be able to bid for industrial land. This is part of our larger push for digital transformation and more inclusive participation. Bihar is open for business. Opportunity is now just a bid away," he said.
"The auction, conducted seamlessly, ensured full transparency and equal opportunity. It wasn't just about fairness — it revealed real market demand and generated double the expected value for the state. Today, Bihar isn't chasing investors. Investors are chasing Bihar under the visionary leadership of CM Nitish Kumar and the energetic push of industries minister Nitish Mishra," the MD said.
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