E-auction of 38 land parcels today by Hyderabad Metropolitan Development Authority

HYDERABAD: After successfully conducting the e-auction of large land parcels in 2022, the Hyderabad Metropolitan Development Authority (HMDA) is all set to auction 38 land parcels (remaining open plots) on Wednesday.

These land parcels, located in well-developed areas with infrastructure for immediate construction, will go under the hammer in two sessions — 11 am to 2 pm for plots 1 to 20 and 3 pm to 6 pm for plots 21 to 38.They include land parcels in Ameenpur, Patancheru, Ramachandrapuram, Jinnaram in Sangareddy district, Quthbullapur, Ghatkesar, Bachupally, Kukatpally and Gandi Maisamma in Medchal Makajgiri district, Gandipet and Serilingampally in Rangareddy district. A stiff competition is expected from bidders for land in prime areas of Kokapet, Nallagandla, Puppalaguda, Moosapet, Chandanagar, Bachupally, Ghatkesar and Ameenpur.

As the cash-strapped government struggles to raise funds, it is taking the land auction route to fill the its coffers. The HMDA has put these plots for e-auctioning through MSTC Limited, a Government of India Enterprise.If all the 38 open plots are sold at the minimum upset price fixed by the HMDA, it is expecting to collect Rs 750 crore and if the plots are auctioned for more than the upset price, it is hoping to collect around Rs 1,000 crore.

The last date for registration was January 16 and payment of deposit was January 17 to participate in the bids.In the recent pre-bid meetings, HMDA received an encouraging response where over 100 prospective bidders took part and they included builders, realtors, developers and others.

HMDA has fixed a whopping Rs 1.50 lakh per square yard for two land parcels at Nallagandla, Rs 1.10 lakh per sqyd for two land parcels in Kokapet, Rs 1 lakh per sqyd for two land parcels in Dargah Hussain Shahwali and Chandanagar, Rs 70,000 per sqyd in Ameenpur, Patelguda and Moosapet. The lowest upset price is Rs 10,000 per sqyd in Isnapur.

The land parcels have been divided into varying sizes, the maximum being 9,680 sqyds in Puppalaguda followed 8,591 sqyds in Kokapet, 7,985 sqyds in Gandipet, 7,260 sqyds at Isnapur in Patancheru and so on.The minimum upset price has been set at Rs 1.50 lakh to Rs 10,000 per square yard depending on the land parcel with an increment bid of Rs 1,000 per sqyd or multiples thereof.

The HMDA officials said that all the plots are encumbrance-free without any litigation with excellent road connectivity. All plots are ready for immediate construction. The plots would be given with clear title, absolute ownership. 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 drains systems, the officials said.