HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) on behalf of the State government is all set for the mega e-auction of prime plots in Kokapet. The plots are set to go under the auctioneer’s hammer at 9 am on July 15.
The last date for the registration was July 13. The corporates, builders, developers and others who have registered for the e-auction remain unknown, even to HMDA officials, to maintain the secrecy in the process. The e-auctioning is being done by MSTC Limited, a central government-owned e-commerce enterprise.
HMDA has put its prime plots in the bustling greenfield project in Kokapet under the hammer after a gap of two years after the State cabinet directed concerned departments to take immediate action on the sale of vacant government lands last month. The layout named ‘Neopolis Layout’ with seven plots (48.27 acres) will present immense possibilities for developers and investors. Another plot in the Golden Mile layout (1.65 acres) of Kokapet has also been put up for e-auction.
All the eight plots going under the hammer have a base price of Rs 25 crore per acre (49.92 acres). The time of e-auction for plot numbers 1, 2, 3 and 12 will be from 9 am to 12 noon. For plots 4, 13, Plot A in Neopolis and one plot in Golden Mile will take place from 2 pm to 5 pm. The HMDA is expected to raise between Rs 1,500 crore to Rs 1,600 crore. While the market value of the land is around Rs 40 crore per acre, it is likely that plots are expected to be e-auctioned above Rs 40 crore.
Sources said that the Neopolis project gives 100 per cent clear assured title of the government land, absolute ownership of the land, time-bound fast track approvals through single-window, unlimited FSI and multiple-use zone for IT, residential and commercial use.