HYDERABAD: In dire financial straits, the State government has allowed the Hyderabad Metropolitan Development Authority (HMDA) and Telangana State Industrial Infrastructure Corporation (TSIIC) to go for another round of e-auctioning of the 454 plots (both new and left over) spread over seven locations in three districts between November 10 and 23 to raise between Rs 500 crore and Rs 700 crore.
Officials told TNIE that as the cash-strapped government struggles to raise funds, it’s taking the land auction route to fill its coffers. They said that the three prime plots in Chandanagar in Serilingampally will go under the hammer on November 18, 94 plots in Kawadipally on November 10 and 11, 87 plots in Bahadurpally on November 14 and 15, 145 plots in Thorrur from November 18 to 22, the 14 plots in Turkayamjal on November 23, the 110 in Kurmalguda on November 16 and 17 and one Amisthapur commercial plot on November 23.
The plots would be auctioned through MSTC Ltd, a Government of India enterprise and are expected to raise over Rs 500 crore. All these plots, which are in multiple use zone, are suitable for stilt-plus-five floors.
HMDA will conduct the e-auction for five sites at Thorrur, Turkayamjal, Bahadurpally, Kurmalguda and one commercial plot in Amisthapur, Mahabubnagar while the TSIIC is will conduct the e-auction for two sites in Chandanagar and Kawadipally.
They said that plots have been divided in varying sizes from 187 sq yd to 6,907 sq yd in Amisthapur. The e-auction bidding starts with a minimum upset price of Rs 10,000 for Kurmalguda and Kawadipally to Rs 40,000 per sq yd for Chandanagar plots. The increment bid will be Rs 100 and Rs 500 per sq yd or multiple thereof.
The EMD is between Rs 50,000 and Rs 5 lakh. The pre-bid meetings for various locations will be held between October 29 and November 10.
They said that all the plots are free of encumbrance and litigation, and are ready for immediate construction as there is no need for change of land use. The plots have 100 per cent clear assured title of the government land, absolute ownership of the land, time bound fast track approvals through a single window.
All the plots will be provided with all amenities such as drinking water, underground sewerage and storm water drainage systems and BT roads. As much as 60 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 be one of the most modern developments which will present immense possibilities for individuals, group of individuals, joint partnership companies, firms and developers. It is ideal for construction of apartments, offices and commercial complexes, they added.
Pre-bid meet
The pre-bid meetings for various locations will be held between October 29 and November 10, the officials said.