HYDERABAD: The e-auctioning of 50 open plots in Phase-I of Shabad on the city’s outskirts on Tuesday has fetched Rs 33.06 crore to the government, which is two times more than the market price per square yard. The Hyderabad Metropolitan Development Authority (HMDA) has e-auctioned as many as 50 open plots in Phase-I of Shabad through two sessions of e-auction. The HMDA has fixed the minimum upset price of Rs 10,000 per square yard. The price touched a high of Rs 27,000 per square yard and lowest of Rs 18,000 per square yard. The average bid price per square yard was Rs 22,040.
A total of 50 open plots were put to e-auction on online bidding process through MSTC Limited, a Government of India Enterprise with plots ranging from 300 sq.yds and the total area put to e-auction on two sessions was 15,000 sq.yds. The upset price for the e-auction was Rs 10,000 per sq.yd with bidding multiples of Rs 500 per sq.yd and total anticipated estimated value of the saleable area as per the upset price is Rs 15 crore.
The total revenue received through the two sessions of e-auction was Rs 33.06 crore, more than two times the base value. The HMDA officials said that the State Government has proposed a layout development in an area of 100 acres in Shabad for residential use zone for individuals, and agencies for the construction of their own houses, buildings or apartments.
The layout has been planned with 877 plots of which 50 have been taken up for e-auction in Phase-I of different sizes for all sectors. All infrastructure facilities are proposed to be developed such as black topped roads with footpaths, central medians, underground sewage system, water supply distribution network with overhead tanks, storm water drainage system, electrical power supply, and street lighting. The infrastructure works will be completed within 18 months. The auction was conducted in two sessions for 25 plots each.
The officials said that all the plots were encumbrance-free, unlimited FSI, multi-purpose use zone with good road connectivity. All plots are ready for immediate construction. The plots would give 100 percent clear assured title of the government land, absolute ownership of the land, and time-bound fast-track approvals through a single window.
MOKILA: On Monday, an e-auctioning of 48 plots took place in Mokila village, near Narsingi-Shankarpally road which received a good response due to its proximity to highly-developed areas such as Neopolis, Financial District, and Narsingi. The price had touched a high of Rs 1.05 lakh per sq.yd, and the total revenue received through the two sessions of e-auction was Rs 121.40 crore, which is more than three times the market price per square yard.
The average weighted price was Rs 80,397 per sq.yd (three times the base upset price with a high value of Rs 1.05 lakh per sq. yd and a low value of Rs 72,000 per sq.yd. Given the encouraging response and huge demand for plots, the state government will come up with a second phase of auctions in Mokila soon.