Famous Balapur laddu sold for 9.5 lakhs in an open auction conducted by the Balapur utsav committee on Monday morning. S Jaihind Reddy a farmer of Balapur outbid 23 others and took home the 21-kg laddu.
The amount paid is 24,000 higher than the last year’s bid of 9.26 lakhs won by TDP leader Krishna Reddy. It has been a tradition that the successful bidder has to pay the bid amount the following year.
Balapur utsav committee had first conducted auction of laddu for the first time in 1994 and then other committee’s in the state followed. In an another auction of laddu in sardarpatel nagar in Kukatpally, a builder Narasimha goud bought the colony’s laddu for Rs. 10.01 lakh in open auction setting a new record.