HYDERABAD: Good times seem to have returned for the Hyderabad Metropolitan Development Authority (HMDA).
Of the 229 plots put up for auction through e-bidding, 117 plots (over 50 percent) were sold away at a record price of Rs 67.51 crore.
The HMDA actually targeted to realise Rs 40 crore from the 229 plots in Asifnagar (one plot), Miyapur (102 plots), Mushk Mahal Residential complex (5 plots), Nallagandla complex (98 plots), Nandagiri Hills (one plot), Ramchandrapuram (Chandanagar, 20 plots) and Tellapur (2 plots).
“After a gap of nearly two years, demand for plots is picking up in Greater Hyderabad,” HMDA metropolitan commissioner BP Acharya told Expresso.
Buoyed by the success, the HMDA decided to go ahead with fresh auctions from next month. Apart from the 112 leftover plots, 100 plots in Jawaharnagar will be put for auction, Acharya added. Officials attributed the encouraging response to the transparency being maintained by the HMDA and prompt follow-up action by the staff. The HMDA also extended loan facility.
“The plots are free from litigation and the allottees are able to obtain loans from HUDCO, SBI and other banks,” Acharya said.
The HMDA also reduced upset price for plots to Rs 10,000 per square yard from Rs 18,000. A single plot in Nandgiri Hills (334 sq.yds) fetched a record Rs 1.85 crore. The upset price was Rs 40,000 per sq.yd but the bid was Rs 55,251 per sq.yd. The Nallagandla plots fetched Rs 17,000 per sq.yd as against the upset price of Rs 10,000 and Miyapur fetched Rs 15,000 per sq.yd.
Out of the 102 plots in Miyapur, about 56 were sold away. In Nallagandla, 47 out of 98 were sold.
The allottees have to pay 25 percent of the bid amount within a week and the remaining in a month.
There were 334 eligible bidders at the auctions.
bachanjeet@expressbuzz.com