Hyderabad: Famous Balapur Ganesh ‘laddu’ was auctioned for a whopping Rs 17.60 lakh this morning. The 21kg laddu was kept in a 2kg silver bowl was bought by Kolan Rami Reddy.
The ceremonial auction at Balapur, the place from where the Hyderabad Ganesh procession begins, began in 1994.
The price of the laddu has been going up since then. It was sold for Rs 16.60 lakh last year and the buyer was T Srinivas Guptha of Balapur Arya Vysya Sangham. It is said that the Kolam family bought the laddu for the 9th time.
The auction was conducted by Ganesh Utsav Samithi in which 19 bidders participated. The starting price of laddu was only Rs 1,116 which jumped to a whopping Rs 17.60 lakh within 10 minutes into the auction.