Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) on Monday cancelled the bids for plot numbers 241, 242, 263, 273, 282, 283, 284, 312, 313, and 322, as the bidders failed to pay the Initial Deposit (25 percent) amount even after having given them time.
The plots were proposed for residential layout in an area of 165 areas at Mokila village, 2 km from the Narsingi-Shankerpally road.
A total of 60 open plots to e-auction through MSTC. The plots range from 300 square yards to 500 square yards.
However, cancellation letters were issued to the above mentioned plots duly forfeiting the EMD (Earnest Money Deposits) amounts.
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“These defaulters will be not allowed to participate in future auctions,” stated HMDA in a press release.
The authority has further warned that bidders will be kept in the block if they fail to pay the initial deposit or the first instalment amount.
“The selected bidders must pay the instalments as per the payment schedule prescribed in the brochure conditions,” said HMDA.
Action for cancellation of allotment and forfeiture of EMD will be taken as per the brochure conditions and no relaxation will be given in an otherwise situation.