HYDERABAD: The cash-strapped State government has set its eyes on the e-auctioning of plots by developing another 40 acres of land in the Uppal Bhagayat Layout.
The HMDA which has been tasked to develop and sell the plots by the end of this year is expected to rake in about Rs 700 crore for the government. Enthused by its success of e-auction of plots in Uppal Bhagayat Layout Phase I and Phase II near Nagore Metro Station, the HMDA is developing land in the same layout.
The HMDA is planning to create the necessary infrastructure in the parcel of land under consideration in the layout like laying of bitumen roads, external water supply, drainage lines, street lights, greenery, and footpaths. The process of developing the layout will take about eight to nine months.
The HMDA will make the layout attractive by providing state-of-the-art infrastructure at an estimated cost of Rs 25 crore. The work is expected to begin in a month or two as HMDA invited tenders in this regard. The previous auctions turned out to be a jackpot as they fetched huge sums of money to the HMDA which was transferred to the State Government’s treasury.
A techno-commerce hub
HMDA authorities told Express that the 40 acres area is the last parcel of the land available in the Uppal-Bhagayat layout.In the first phase, about 413 acres of land was auctioned in which a majority of the plots have gone to farmers under Land Pooling Scheme. In the second phase, 72 acres of land was auctioned. Uppal Bhagayat is the first layout in the State to be developed under land pooling scheme.
Real estate has developed in Uppal Bhagayat, Nagole in the last few years and one can see the multi-storeyed apartments, commercial complexes, shopping malls, multiplexes, and commercial activities.The HMDA is looking forward to developing the new layout as a techno-commerce hub on a par with HiTec City. It is evident from the expectations shared by the authority with the prospective buyers.
733 acres acquired in 2005
In 2005, the HMDA acquired 733 acres of land from farmers in the Uppal Bhagayat. Of this, 143 acres of land was allotted for the Metro Rail and 100 acres for the HMWS&SB. However, under Phase-1, HMDA developed 413 acres in plots of various sizes and distributed them to farmers under the land pooling system. Under Phase II, the remaining plots were sold by HMDA at different times. The HMDA has developed 70 acres as a multipurpose zone in Uppal Bhagayat under Phase-II Layout and auctioned the land for a handsome amount.