A Laddu Was Just Auctioned Off For A Whopping Rs. 17.60 Lakhs!

 Balapur laddu is one of the many things the entire nation looks forward to on the event of Ganesh Chaturthi. Every year the famous laddu sets a new record with the bidding scaling up every passing year. And this year, it again shattered 2018’s bidding price as the popular Balapur laddu was auctioned for a whopping Rs. 17.60 lakhs within just 20 minutes.

The 21-kg kilogram laddu was won by Kolan Ram Reddy, a local resident of Balapur, Hyderabad. This is the ninth time that the Kolan family is winning the auction since it began in 1994. A triumphant Mr. Reddy then climbed onto the vehicle carrying the Balapur Ganesha idol. He held aloft the laddu on his head as a mark of reverence. Local residents and people from as far as Nellore district of Andhra Pradesh participated in the several rounds of bidding. The auction event was even attended by several politicians including Education Minister Sabitha Indra Reddy.

The custom to auctioning began first in the Balapur village in 1994 when the laddu was sold for Rs. 450.  It is believed that the winner of the laddu is blessed with a bright future and prosperous business. The auction since then has become a tradition for the final day of Ganesh festivities. In 2018, the popular laddu fetched Rs 16.6 lakh and was bought by Teretipalli Srinivas Guptha, president of Balapur mandal Arya Vaishya Sangam.