HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) is set to e-auction 324 developed plots, comprising 223 plots at Thorrur Layout in Hayathnagar (The Hub of Life at East City) and 101 plots at Bahadurpally layout in Medchal (The Hub of Life at North City). The plots are set to go under the auctioneer’s hammer between March 14 and 17. A notification to this effect was issued on Monday. This auction will be separate from the physical auctioning of 1,400 plots in 10 districts.
The HMDA has put its plots in the greenfield project site under the hammer after successful e-auctioning of Neopolis Layout in Kokapet in July last year which fetched the State government over Rs 2,000 crore. The planning body will take up the e-auctioning of plots through MSTC Limited, a Union government enterprise. Through e-auctioning from these two layouts, the HMDA is expecting to fetch between Rs 400 crore and Rs 500 crore.
Rs 25K for Bahadurpally, Rs 20K for Thorrur is minimum price
The e-auction bidding starts from the minimum upset price of Rs 25,000 per sq yd for Bahadurpally and Rs 20,000 per sq yd for Thorrur with an increment bid of 500 per sq yd.The Thorrur Layout developed by HMDA has plots of 300 sq yds each, while the Bahadurpally layout has plots ranging from 500 sq yds to 900 sq yds in size. Both these layouts are surrounded by hospitals and educational institutions.
Pre-bid meetings for the Bahadurpally layout will be held on February 23 and March 4. Field visits will be facilitated on February 18 and March 7. A pre-bid meeting for Thorrur layout will be held on February 25 and March 9 while field visits will be facilitated on February 25 and March 9.
HMDA to give hassle-free building permits
These plots are fully developed 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 will present immense possibilities for individuals, groups of individuals, joint partnership companies, firms and developers.
Sources said that all the plots are free from encumbrance and ready for immediate construction. There is also no need for any change for land use. Works for infrastructure like internal roads, street lights, landscaping, water and sewage lines has commenced. They said that the plots would be given 100 per cent clear assured title of the government land, absolute ownership of the land, fast track approvals through single-window and multiple-use zone.
Bidder to pay 25% of sale value in 7 days
The HMDA will direct the highest bidder to pay the initial deposit of 25% of sale value of the plot within seven days. The bidder has to pay the balance amount within 90 days without interest. However, they highest bidder can opt for an instalment facility with 10 per cent of simple interest per annum up to 180 days excluding the period of the due date