Hyderabad: The Balapur Ganesh ‘Bangaru’ laddu was auctioned for a record breaking price of Rs 17.60 lakh this year 2019. The winner Kolan Rami Reddy of the Kolan family bagged the laddu for the 9th time in its 26-year history.
Last year T Srinivas Gupta of Balapur Arya Vysya Sangham won the auction for Rs 16.60 lakh. This year 2019, the amount was hiked to another one lakh ten thousand rupees.
The auction for the laddu started at 10:23 am by the Balapur Ganesh Utsav Samithi on Thursday, which usually takes place on the Nimmajanam day. Nineteen members participated in the auction which began at 10:30 in the morning at a price of Rs 1,116 from the committee side and within 10 minutes it reached a record amount of Rs 17.60 lakh. Incidentally Kolan Mohan Reddy from the same family won the auction in 1994 for the first time at price of RS 450.
The locals over a period of time gained belief that buying the 21 Kg laddu will usher in prosperity for those who buy it and also who get a share of it. Some of them have said that buying the laddu had increased yield in their farmlands (they even spread some laddo on the agricultural farmland ) and some of them who bought it have also experienced success in business and in political careers.