1. How do we bid? Is it online like eBay (login every day and increase bid till the auction end date) or by going to the location on a particular day (like they show in movies)?
==> It's entirely online.
2. I see there are 2 fees mentioned on the site: Rs. 100 as auction fees, Rs. 1 lakh as caution deposit (or something similar). If I don't win the auction, will I get the caution deposit? How will I get the money back? Are there are any terms here?
==> The caution deposit (EMD) can be paid online (credit/debit card) or offline (Bangalore One or at few Axis Bank branches). I did it online as it's very convenient. This should be done while submitting "Interest of Participation" for a particular site. You can choose to bid for more than one site (but make sure you don't end up as a highest bidder (unintentionally) for more than one site ) - in that case you need to pay the EMD separately for each site that you want to bid.
==> I think BDA has increased the EMD to 4 Lacs now.
==> All unsuccessful bidders will get their EMD back once the e-auction is complete. I got my EMD back via NEFT after a week.
3. I have read that 25% of the auction amount should be deposited within 72 hours of the auction closure. Should this be paid on BDA's e-procurement website or throgh cheque? Will BDA sign a sale agreement upon payment?
==> If you are the successful bidder, then you will have to pay 25% - EMD within 72 hours to the specified Account no. - this can be done either via RTGS/NEFT. I think you can also pay it via Demand draft (but I think they won't accept cheque).
==> no, there won't be any sale agreement. You need to visit BDA office and get the challan. You also need to produce one passport size photo at that time.
4. What about the rest 75% of the auction amount? By when should this be paid?
==> They will send you a letter via post which will contain the details like - the site no. you have bid, amount you have already paid, remaining amount yet to be paid and by when you need to pay that amount. Normally you will have 45 days "after receiving this letter". But note that the letter itself may come to you after 1 or 2 months after the bidding (you will need to keep enquiring the status every week by calling them). So, effectively you will have more than 2 months time to pay the remaining 75%.
5. What if I want to apply for a plot+construction loan? Will I have to arrange for the 25% amount by myself (within 3 days), and apply for the loan later? Will BDA give enough time for the loan processing?
==> You will have to arrange the 25% within 3 days from your own source. Later you can apply for plot loan (may be plot+construction loan as well) - in fact, the bank (HDFC/Axis) agents only will start calling you - so, getting a loan won't be difficult.
You can go through this document for the e-auction procedure --> https://eproc.karnataka.gov.in/document ... mments.zip