Business Telangana

Hyderabad: 218 plots in Bachupally up for e-auction by HMDA

Hyderabad: E-auction of 218 prime plots in Bachupally, near the Outer Ring Road (ORR), and Medipally layouts, both located in the Medchal-Malkajgiri district will be taken up by the Hyderabad Metropolitan Development Authority (HMDA) on Monday.

E-auction of 373 residential plots in Manneguda, Munaganoor, Kawadipally, and Chandanagar will be taken up from June 12 to 21 by the Rangareddy district administration, in collaboration with the Telangana State Industrial Infrastructure Corporation (TSIIC) and HMDA.

An amount of Rs 450-Rs 500 crores will be generated from these auctions while the HMDA further plans to announce another e-auction of plots in Shabad and Mokila in the Rangareddy district.

The notification for the e-auction will reportedly be released soon.

During the second phase of e-auctioning, HMDA will offer 133 prime plots in Bachupally and 85 plots in Medipally from May 22 to 25, between 3 pm to 6 pm, with expected revenues of around Rs 250-Rs 300 crores to be raised through these auctions.

The HMDA has entrusted MSTC Limited, a Government of India enterprise, with the task of auctioning these plots.

A minimum upset price of Rs 25,000 per sq. yd for Bachupally plots and Rs 32,000 per sq. yd for Medipally plots, with an increment bid of Rs 500 per sq. yd has been set by the metropolitan authority.

Furthermore, a total of 166 plots in Manneguda, 152 plots in Munaganoor, 52 plots in Kawadipally, and three prime plots in Chandanagar will be e-auctioned from June 12 to 21, 2023.

The government has set the minimum upset price at Rs 30,000 per sq. yd for Manneguda plots, Rs 20,000 per sq. yd for Munaganoor plots, Rs 10,000 per sq. yd for Kawadipally plots, and Rs 40,000 per sq. yd for Chandanagar plots.

The Earnest Money Deposit (EMD) for each plot ranges from Rs 50,000 to Rs 3 lakh while the pre-bid meetings for the same are scheduled to be held from June 2 to 9.

According to HMDA, the plots under the auction are ready for immediate construction, free from litigations, and have good road connectivity and basic amenities with 100 percent clear assured title of the government land with no encumbrances.

The authority has further notified that those plots which remain unsold after the auction will be utilised in the construction of 2BHK houses, and community halls, as per the requirement.