HYDERABAD: In an effort to raise funds, the State government has decided to proceed with the fourth phase of e-auctioning for 63 prime open lands in the Uppal Bhagayath Developed Layout near Nagole Metro Station. The Hyderabad Metropolitan Development Authority (HMDA) will oversee the auction, which is scheduled to take place on June 30 in two sessions.
Facing financial challenges, the government has turned to land auctions as a means of bolstering its coffers. The HMDA has entrusted the e-auctioning process to MSTC Limited, a Government of India enterprise. The morning session on June 30 will feature the auction of 32 plots, followed by the auction of 31 plots in the afternoon session. A pre-bid meeting will be conducted at the site on June 13. The minimum upset price per square yard has been set at Rs 35,000, with an incremental bid of Rs 500 per square yard or a multiple thereof.
The size of open plots available for auction range from 465 square yards to 11,374 square yards. The Earnest Money Deposit (EMD) has been fixed at Rs 5 lakh per plot (up to 1,000 square yards) and Rs 10 lakh per plot for sizes exceeding 1,000 square yards.
Under the Land Pooling Scheme, the HMDA has undertaken the development of a prestigious layout in Uppal Bhagayath. The layout is being developed in phases, with the first phase covering 413 acres for residential purposes and the second phase encompassing 72 acres of larger plots suitable for high-rise buildings (MSB) and multipurpose use. The third phase of the layout, spread across 56 acres, is also dedicated to residential and multipurpose usage.
HMDA anticipates raising several hundred crores through the e-auctioning of these open plots, as the layout is strategically located near Nagole Metro Station and adjacent to Uppal-LB Nagar Inner Ring Road. The layout also features a mini Shilparamam on the banks of the Musi River, with aesthetically designed riverfront development that adds to its appeal.
The layout is equipped with a 30-metre-wide road that connects to the inner ring road at the Metro Station. It includes a dual carriageway of 10.5 metres in width with a central median kerb and greenery. The road grid within the layout comprises 12-metre, 18-metre and 30-metre wide roads with dual carriageways, facilitating the construction of high-rise buildings and providing attractive floor area as per relevant town planning rules. All necessary amenities, such as roads, water and sewerage pipelines, electricity, stormwater drains, and green spaces, have been provided within the layout.