Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) plans to electronically auction 233 plots across the city, in order to make up for the financial crisis caused by the Centre’s denial to market borrowings in this fiscal year on the grounds that it had exceeded its FRMB limit.
Major areas where plots will be auctioned include, Turkayamjal, Thorrur, and Bahadurpally layouts. The auction is expected to raise more than Rs 500 crore. Out of the total number of plots up for auction, 34 are in Turkayamjal within Outer Ring Road (ORR), Thorrur (148 plots), and Bahadurpally (51 plots) for which the HMDA has released notifications.
A Government of India (GoI) enterprise, MSTC Limited, will conduct the auction. The 34 prime plots in Turkayamjal and 51 plots in Bahadurpally will be on e-auctioning on June 30 in two sessions. The 148 plots in the Thorrur layout will be auctioned on July 1, 2, and 4.
“34 plots in Turkayamjal is a multi-purpose zone and they have been divided in varying sizes, viz 14 plots in 600-700 sq. yds, 10 plots (701-800 sq. yds), five plots (800-850 sq. yds) and five plots (900-1000 sq. yds),” said an HMDA press release.
The e-auction bidding commences from a minimum upset price of Rs 20,000 per square yard with an increment bid at Rs 500 per sq yard or multiple thereof. Pre-bid meetings will be conducted between June 9 and 20. The Bahadurpally layout has been divided into sizes ranging from 290 sq. yds to 529 sq. yds.