HYDERABAD: The e-auction of 44 developed plots spread over 1,35,408 square yards in the Uppal Bhagayath Layout (The Hub of Life @ East City) began at HMDA head office, Ameerpet on Thursday.
Hyderabad Metropolitan Development Authority (HMDA) has put its plots in the bustling greenfield project site under the hammer after a gap of two years and is going to provide a long-cherished dream for individuals to own a plot in the heart of the city.
The auction is being held by the HMDA and on the online platform managed by Union government enterprise MSTC Limited.
The layout is one of the most modern developments which will present immense possibilities for individuals, groups of individuals with five members, joint partnership companies, firms and developers. A total of 23 plots are going under the hammer in two sessions. The remaining 21 plots will be auctioned on December 3.
The 44 notified plots range from 150 square yards to 15,149 square yards which include those for Residential (21 plots), Hospitals (2), Shopping Cum Entertainment, (4), Educational Institutions (2) and Multipurpose Use (15 plots).
The e-auction bidding starts from Rs 35,000 per square yard with an increment of Rs 1,000 per square yard or multiples thereof.
There are 10 plots of upto 300 square yards 301 to 500 square yards (1 plot), 501 to 1000 square yards (two plots), 1001 to 2000 square yards (11 plots), 2001 square yards and above (20 plots).
Sixty percent of the layout has been set aside 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 abutting to Uppal and LB Nagar Inner Ring Roadand was developed with amenities including stormwater and underground sewerage system.
The Shilparamam on the banks of the Musi River is situated within the layout. The riverfront development with landscape designed aesthetically is developed in the layout along the bank of the Musi River which is really an added attraction and a special feature and is a celebration of nature.