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35 prime West Hyderabad plots to go under the hammer

The plots, being developed by the Telangana State Industrial Infrastructure Corporation (TSIIC), will offer modern facilities for financial institutions, developers, corporates and investors. 

Published: 29th August 2021 09:34 AM  |   Last Updated: 29th August 2021 02:52 PM   |  A+A-

Real Estate

For representational purposes (File Photo | EPS)

Express News Service

HYDERABAD:  Buoyed by the success of the mega e-auction of over a dozen prime plots in Kokapet and Khanamet in Hyderabad last month, the State government is all set for another round. This time, 35 prime plots spread over a total area of 117.35 acres at Khanamet and Puppalaguda will be put up for e-auction on September 27 and 28. Through the proposed e-auctions, the cash-strapped State is expecting to raise Rs 4,000-Rs 4,500 crore. The minimum upset price, which is yet to be decided, is likely to be more than a whopping Rs 25 crore per acre. 

The plots, being developed by the Telangana State Industrial Infrastructure Corporation (TSIIC), will offer modern facilities for financial institutions, developers, corporates and investors. The plots vary in size from 0.74 acre to 6.62 acres and will have wide internal roads. Nine plots will be sold at Khanamet (22.79 acres) and 26 in Puppalaguda (95.56 acres).  

Both the sites are close to the Outer Ring Road (ORR) and located in West Hyderabad, in the heart of the Central Business District (CBD). Official sources say the plots are likely to scooped up in no time as they are surrounded by commercial hubs, recreational zones, good transportation facilities, hotels, hospitals and schools. 

The e-auctioning will be conducted by MSTC Limited, a government-owned e-commerce enterprise, in coordination with the TSIIC. Prospective buyers can visit the sites from September 1 to 24. Last month’s auction for 13 prime plots at Kokapet (eight plots, 49.92 acres) and Khanamet (five plots, 15.01 acres) proved to be a jackpot for the government as it raked in over Rs 2,000 crore and Rs 729.41 crore respectively.

A notification will be issued on August 30 for e-auctioning of the 35 prime plots. The last date for registration and EMI payment is up to 5 pm of September 25. A pre-bidding will be held on September 9. The Khanamet e-auction will be held on September 27 and for Puppalaguda on September 28.

AUCTION A RESULT OF CABINET ORDERS
The move to auction these lands comes after the State Cabinet directed the departments concerned to take immediate action on the sale of vacant government lands two months ago.



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