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Kerala Businessman Spends Rs 31 Lakh on Special Number Plate for Blue Porsche

That's more than the price of a Mercedez-Benz A Class which costs about 29 lakh (showroom price).

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Updated:February 5, 2019, 4:55 PM IST
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Kerala Businessman Spends Rs 31 Lakh on Special Number Plate for Blue Porsche
That's more than the price of a Mercedez-Benz A Class which costs about 29 lakh (showroom price).
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While most people would spend Rs 31 lakh on getting a new car, a Kerala businessman has stumped all by getting a number plate for the same amount instead.

K.S.Balagopal, MD of Devi Pharma recently bid Rs 31 lakh at an auction to buy the richest number plate in Kerala. The car? A Miami Blue Porsche 718 Boxster with an on-road price of Rs 1 crore.

State RTO offices periodically release a list of series numbers for car number plates and these are auctioned off for high prices as many covet having that unique, quirky number plate. And for Balagopal who fancies getting the first plates in every series, this was surely not the first big splurge.

To enter the competition, Balagopal had to shell out Rs 1 lakh in admission fee and then bid Rs 30 lakh for the number plate even as bidding started at Rs 500.

According to a report in Times Now, the businessman had paid Rs 19 lakh for a number plate in a 2017 auction for his Land Cruiser.

Bidding on quirky number plates seems to be something of a hobby with Indian businessmen. In 2016, Balwinder Sahani, an Indian businessman in the United Arab Emirates paid about Rs 60 crores for a 'D5' number plate in Dubai.

The current record for the world's most expensive number plate ('F1') is held by British businessman Afzhal Kahn, owner of Kahn Design who bought it for a whopping Rs 132 crores. (Unlike India, citizens of the United Kingdom can personalize the content of the number plate in the UK)

Now that is an expensive, albeit wasteful, fancy.
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