HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) is gearing up for an e-auction of 218 prime plots in Bachupally, near the Outer Ring Road (ORR), and Medipally layouts, both located in the Medchal-Malkajgiri district. The auction process is set to commence on May 22.
Additionally, the Rangareddy district administration, in collaboration with the Telangana State Industrial Infrastructure Corporation (TSIIC) and HMDA, will conduct the e-auction of 373 residential plots in Manneguda, Munaganoor, Kawadipally, and Chandanagar from June 12 to 21.
With the State government facing financial constraints, it anticipates revenues of approximately Rs 450-Rs 500 crores from these auctions. HMDA is also planning to announce another e-auction of plots in Shabad and Mokila in the Rangareddy district, with a notification expected 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. The government aims to generate revenues of around Rs 250-Rs 300 crore through these auctions. Notably, in March of this year, Bachupally plots witnessed robust sales, generating Rs 116 crore compared to the upset value of Rs 49 crore.
As the State government grapples with financial challenges, it is turning to land auctions as a means to bolster its resources. The HMDA has entrusted MSTC Limited, a Government of India enterprise, with the task of conducting these plot auctions.
The 133 prime plots in Bachupally, ranging from 265 sq. yd to 576 sq. yd, will be available for bidding over three days from May 22 to 24. Additionally, the 85 plots in Medipally, ranging from 230 sq. yd to 643 sq. yd, will be auctioned on May 24 and 25.
These plots, located in two layouts, fall under multiple-use zones suitable for multi-storeyed buildings, eliminating the need for any change in land use. HMDA has set the minimum upset price at 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 or multiples thereof.
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. Pre-bid meetings are scheduled to be held from June 2 to 9.
Officials confirmed that all the plots are free from encumbrances and litigation, offer excellent road connectivity, and are ready for immediate construction without the need for any change in land use. The plots would give 100% clear assured title, absolute ownership of the land, and time-bound fast-track approvals through a single window. All the plots will be provided with all amenities.
Sales to fetch TS Rs 500 crore
The State anticipates revenues of approximately Rs 450-Rs 500 crores from these auctions
During the second phase of e-auctioning, HMDA will offer 133 prime plots in Bachupally and 85 plots in Medipally from May 22.