HYDERABAD: After the elation of record-shattering bids, the unexpectedly lukewarm response to the e-auctioning of 26 plots came as a jolt to the Hyderabad Metropolitan Development Authority (HMDA) on Friday. Of the 26 stray bits spread over three districts of Rangareddy, Medchal-Malkajgiri and Sangareddy, only nine plots were sold and the remaining 17 plots found no takers.
The upset price fixed by the State government for these 26 plots, altogether measuring 69,246 sq yds, was Rs 267.08 crore. At the end of the day, the State government earned Rs 120.92 crore from the nine plots measuring 24,140 sq yds, much lower than the Rs 400 crore it was hoping for.
Sources said that bidders did not show interest as most of the plots were landlocked, stray and leftover plots that had been unsold previously. Also, some of the plots are said to be irregular in shape and not as per Vaastu.
The HMDA put up the 26 land parcels spread over three districts, eight each in Rangareddy and Medchal-Malkajgiri and 10 in Sangareddy district for e-auctioning through MSTC Limited, a Government of India enterprise.
The plot sizes ranged from 530 sq yds to 8,591 sq yds. The upset price ranged from Rs 12,000 per sq yd to Rs 65,000 per sq yd, with an increment bid of Rs 1,000 per sq yd or multiples thereof.
The highest bid of Rs 90,000 per sq.yd was for a plot at Manchirevula against the upset price of Rs 50,000, followed by a plot at Nallagandla plots fetching Rs 66,000 against the upset price of Rs 65,000.
Officials said that of eight plots in Bachupally, Gandi Maisamma, Dundigal, Medipally and Suraram of Medchal-Malkajgiri district, only one (605 sq yds) was sold for Rs 1.58 crore. Of the 10 plots in Ameenpur, RC Puram and Patancheru in Sangareddy district, only four plots (8,773 sq yds) were sold for a total of Rs 17.12 crore.