HMDA plans to generate revenue of Rs 700 crore via plot auction

The Hyderabad Metropolitan Development Authority (HMDA) is all set to auction its plots after a gap of 12 years and is planning to generate revenue of Rs 700 crore.

Making this announcement, HMDA Commissioner T Chiranjeevulu said at a press conference on Monday that they plan to utilise the amount for taking up various development works worth Rs 1,000 crore in Hyderabad.

Via e-tender-cum-e-auctioning of plots in prime localities under its jurisdiction, the HMDA will auction 229 plots of different sizes, measuring over 1.24 lakh square yards in different areas.

In areas such as Bachupally, the upset price per square yard ranges from Rs 16,000 and goes up to Rs 80,000 in areas like Nandagiri Hills.

Through the auctioning of these 229 plots, HMDA has planned to generate Rs 300 crore and auctions in two more phases will be conducted in six months where the estimated price generation is Rs 700 crore.

According to the HMDA Commissioner, the plots included in the auction would be free from court disputes while the stray bits, those which are leftover in previous auctions and gifted lands would also be a part of the auction.

The last date for registration and payment of money deposit for participating in the auction is April 9 with the minimum bid amount Rs 100. Interested people can log on to the website - mstcecommerce.com.

The auction will be held from April 10 to 12 from 10:30 am to 12:30 pm and 2 pm to 5 pm.