Hyderabad Metropolitan Development Authority (HMDA) which is going to conduct an auction of 38 open plots located on the outskirts of the city is hoping to generate a revenue of Rs 1000 crore.
The auction will be conducted in two sessions and is going to be held on January 18. Ahead of the auction, a pre-bidding meeting was held. Over 100 prospective bidders took part in the meeting.
The size of the plots varies from 302 sq. yards to 9680 sq. yards. However, the majority of them are more than 1000 sq. yards. The plot of 9680 sq. yards is located in Puppalaguda in Gandipet.
Other plots are located in Puppalguda, Nallagandla, Chandanagar, Manchirevula, Kokapet, Bairagiguda, Darga Hussaini, and Peeramcheru in Rangareddy. In Medchal districts, the plots are located in Ameenpur, Isnapur, Patelguda, and Sultanpur in Sangareddy and Bachupally, Bowrampet, Moosapet, Suraram, and Korremula.
The upset price ranges from Rs 10, 000 to Rs 1.5 lakh per sq. yard. The authorities have fixed Rs 1.5 lakh per sq. yard for open plots located in Nallagandla, the outskirts of Hyderabad. The lowest upset price of Rs 10,000 was fixed for land in Isnapur.
