BDB holds online auction for office space

Bharat Diamond Bourse recently held an online auction for 69 offices in its premises. Of the total 2,500 offices of the bourse, within its eight towers, the BDB has sold 2,300 offices. The BDB had held an auction previously in April, in which 135 offices were to bid for, but 62 were sold. This second auction is for the remainder 69.

To be eligible for the auction, a bidder needs to o either be an existing member or should have applied for Trade Membership of BDB by 31st May, 2011, and the Trade Membership Application should be in principle approved by the Enrolment/Managing Committee.

The auction platform is built by Centerac India Pvt. Ltd, an end to end internet solution provider, and the company is also operating this platform. KPMG verified the entire process and related guidelines of the auction. Bids are accepted and the winners were declared according to the processes defined by BDB and audited by KPMG.