HYDERABAD: The HMDA is all set for the e-auction of 44 developed plots in Uppal Bhagayat layout in the city called The Hub of Life @ East City. The plots are set to go under the auctioneer’s hammer from 9 am on December 2 and 3. The HMDA is expecting a revenue of Rs 500-Rs 700 crore from the auction.
The 44 notified plots range from 150 sq yards to 15,149 sq yards which include residential (21 plots), hospitals (2), shopping-cum-entertainment (4), educational institutions (2) and multipurpose use (15 plots).
The e-auction bidding starts from 35,000 per square yards with an increment of bid @ 1,000 per sq.yard or multiples thereof. The e-auction will be conducted on December 2 and 3 in morning and afternoon sessions.
These plots are fully developed ones, with all amenities, including drinking water. Sixty per cent of the layout is allotted for open spaces and parks, and hassle-free building permissions would be given by the HMDA. The layout is in close proximity to Nagole Metro Station near Uppal and LB Nagar Inner Ring Road. The layout has a 100-metre-wide road connecting to Inner Ring Road.