HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) on Monday initiated the process for e-auctioning 44 developed plots in the Uppal Bhagayat Layout on December 2 and 3. The planning body is bringing its plots at the bustling greenfield project site under the hammer after two years.
The HMDA is expecting a windfall from the proposed two-day auction. The authority has fixed an upset price of Rs 35,000 per sq.yd and a minimum bid increment of Rs 1,000 per sq.yd. However, a one-square yard plot of land may fetch around Rs 90,000, according to HMDA sources. This brings up the price for a 150 sq.yd piece of land to Rs 1.35 crore.
The first phase of the auction was held in April 2019, and it fetched the authority Rs 677 crore. In December 2019, the HMDA had put up 124 plots for auction for the second phase, wherein residential plots were e-auctioned for Rs 79,900 per sq.yd. An upset price of Rs 30,000 per sq. yd was set in residential/multi-purpose zones and Rs 40,000 per sq.yd in commercial zones. The HMDA sold 31,311.5 sq.yd for Rs 155 crore on the first day of the e-auction, 28,909.8 sq.yd for Rs 135 crore on the second day, and 78,000 sq.yd for Rs 74 crore on Day 3.
Auction in 4 sessions
This time, the plots put up for auction range from 150 sq.yd to 15,149 sq.yd. To ease participation, the e-auction is scheduled across four sessions on December 2 and 3. For registration, one can visit https://auctions.hmda.gov.in or https://www.mstcecommerce.com. The last date for registration is November 30 and the registration fee for each plot is Rs 1,000 plus 18 per cent GST. A pre-bid meeting will be held on November 15 at 11 am.
The plots are fully developed with adequate amenities. Sixty percent of the layout is allotted for open spaces and parks. The layout is in close proximity to Nagole Metro Station abutting Uppal and LB Nagar Inner Ring Road.
The layout has a 100-metre-wide road that connects to the Inner Ring Road and has a water supply distribution network with protective supply from HMWS&SB. This is in addition to an underground electrical distribution network for power supply, a central median street lighting and a storm water disposal system.
The HMDA developed the prestigious layout at Uppal Bhagayat in an area of about 500 acres under the land pooling scheme a few years ago. The layout was developed in a phased manner — 413 acres in the first phase for residential purposes and 70 acres in the second phase for plots of bigger size suitable for high rise buildings. These plots were auctioned in April and December 2019, which fetched the authority Rs 1,057 crore.
Several amenities on offer
The layout has a 100-metre-wide road that connects to the Inner Ring Road (IRR) and has a water supply distribution network with protective supply from HMWS&SB. This is in addition to an underground electrical distribution network for power supply, a central median street lighting and a storm water disposal system