Hyderabad: HMDA to auction 26 open plots tomorrow

Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) is all set to conduct an e-auction of 26 open plots located in various parts of the city on Friday.

According to HMDA, the plots available are located in Bairagiguda, Manchirevula, Peeramcheruvu, Kokapet, Nallagandla, Chandanagar, Budvel, Bachupally, Chengicherla, Suraram, Ameenpur, Velmala, Patancheru and Bowrampet. These localities are in Ranga Reddy, Medchal-Malkajgiri and Sangareddy districts under the Hyderabad real estate market.

The Earnest Money Deposit (EMD) amount for the auction is Rs 5 lakh; it needs to be paid by Thursday. The auction for the open plots in Hyderabad will be conducted in two sessions on August 18. The first session will be from 11 am to 2 pm for plots in Ranga Reddy and Medchal-Malkajgiri districts. In the second session, plots in Sangareddy district will be put up for auction.

To participate in the auction, individuals, groups, companies, proprietary firms, partnership firms, trusts, registered societies, NBFCs, need to register online. They must be eligible to build/own commercial/multipurpose properties in India and must be competent to enter into a contract.

In the auction, Foreign Direct Investment (FDI) of up to 100 percent is permitted on the automatic route. For details, bidders can log onto official website of HMDA.