On Thursday, Hyderabad's most famous and popular Balapur Ganesh laddu set an all-time record after it was bought it an auction at a whopping cost of Rs 17.60 lakhs. The auction took place before the idol of Lord Ganesh idol was taken on its final journey for the immersion procession.

#BalapurGaneshLaddu in Hyderabad fetches 17.6 lakhs in auction. In 1994 it was auctioned for 450/-. It is believed to bring prosperity to the winner. After mumbai, Hyderabad is the city with highest number of #GanpatiBappaMorya pandals with more 75000 pandals #GanpatiVisarjan pic.twitter.com/rTeHqL8hXn

— Dr.P.S.VishnuVardhan (@drpsvvardhan) September 12, 2019

The Balapur Ganesh laddu auction, which took place on Thursday was attended by as many as 19 participants who took part in the bidding process. Kolanu Ram Reddy, who is a businessman and an agriculturist won the bid for his quote of Rs 17.60 lakhs. Last year, the Balapur Ganesh laddu was auctioned at Rs 16.60 lakh. The auction was won by Ram Reddy who took the gold-coated laddu on a silver plate.