(1) Bid security shall be in form of electronic fund transfer (RTGS/NEFT, etc.).
1[(2) The bid security shall be as specified in table given below:- Table S.No. Area of plot put under e-auction Amount of bid security 2[1 less than 1 hectare 2 lacs 1A 1 hectare 10 lacs] 2 More than 1 hectare and upto 2 hectare 15 lacs 3 More than 2 hectare and upto 5 hectare 25 lacs 4 More than 5 hectare and upto 10 hectare 35 lacs 5 More than 10 hectare 40 lacs ] 4[Provided that in notified scheduled area, plots having one hectare area, the amount of bid security shall be 5 lacs.
Provided further that where offered bid price is more than thirty crore, the bid security shall be twenty five percent of offered bid price.]
1[(3) The bid security of successful bidder shall be adjusted against first installment to be deposited as per sub-rule (10) of rule 14, if not forfeited under these rules.]