HMDA All Set To Conduct E-Auction Of 218 Plots in Bachupally

The Hyderabad Metropolitan Development Authority (HMDA) is set to conduct e-auctions for a total of 218 prime plots in Bachupally and Medipally layouts in the Medchal-Malkajgiri district. Additionally, the Rangareddy district administration, in collaboration with the Telangana State Industrial Infrastructure Corporation (TSIIC) and HMDA, will conduct e-auctions for 373 residential plots in Manneguda, Munaganoor, Kawadipally, and Chandanagar. These e-auctions aim to generate significant revenue and offer prospective buyers an opportunity to acquire desirable properties.

E-Auction Details and Revenue Generation

The e-auction of 133 prime plots in Bachupally and 85 plots in Medipally will take place from May 22 to 25. It is anticipated that these auctions will generate revenues of approximately Rs 250 to Rs 300 crores. Subsequently, the Rangareddy district e-auction, scheduled from June 12 to 21, aims to sell 166 plots in Manneguda, 152 plots in Munaganoor, 52 plots in Kawadipally, and three prime plots in Chandanagar. The expected revenue from this phase of e-auctioning is estimated to be Rs 450 to Rs 500 crores.

Conducting E-Auctions through MSTC Limited

The HMDA has entrusted MSTC Limited, a Government of India enterprise, with the responsibility of conducting these e-auctions. The upset prices for the plots have been set at a minimum of Rs 25,000 per sq. yd for Bachupally and Rs 32,000 per sq. yd for Medipally, with an increment bid of Rs 500 per sq. yd. Similarly, the minimum upset prices for the Rangareddy district plots range from Rs 10,000 to Rs 40,000 per sq. yd, depending on the location.

Availability of Construction-Ready Plots

The plots offered in the e-auctions are ready for immediate construction and are free from any litigations. They also feature good road connectivity and basic amenities. The HMDA assures potential buyers of clear and undisputed title ownership of government land with no encumbrances.

Utilization of Unsold Plots and Future Developments

In the event that some plots remain unsold after the auctions, the HMDA has announced plans to utilize them for the construction of 2BHK houses and community halls as per the requirement. This highlights the authority’s commitment to utilizing resources effectively and meeting the housing needs of the community.

Promoting Transparent Property Acquisition

E-auctions offer several benefits to buyers, including a transparent and efficient process, equal opportunities for all participants, and clear title assurances from the government. With these e-auctions, the HMDA aims to promote fair and accessible property acquisition, while also generating substantial revenue for future developmental projects.

In conclusion, the upcoming e-auctions conducted by the HMDA in collaboration with MSTC Limited present a valuable opportunity for individuals and investors to acquire prime plots in desirable locations. These auctions not only generate significant revenue but also contribute to the overall development and expansion of Hyderabad’s real estate sector.

---

Next Story :

Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe.  Click to follow Indtoday’s Facebook page and Twitter and Instagram. For all the latest Hyderabad News updates